Gas Prices Rise Across S. Florida

MIAMI (CBSMiami) – Dropping by the gas station to fill up your tank may have you doing a double-take when you see the prices. Gas prices are rising across the Sunshine State and the rest of the nation.

The spike in gas prices came after a spike in oil prices last week amidst optimism on the U.S. economy after July’s job numbers were released. It’s a catch-22 for the American market as the better the jobs numbers are, the more oil prices seem to climb.

Crude oil jumped from $77 in June amidst fears of a global recession to $91 on Monday. As result, gas prices have jumped from $3.35 a month ago to $3.67 as of Monday in Miami, according to AAA. In Fort Lauderdale, prices have risen from $3.33 to $3.68 as of August 6, AAA reported.

Texas tourist Laura Ordoñez couldn’t believe the price in Doral of $3.79 a gallon. She said she only paid $3.15 a gallon in Orlando.

“Well, we definitely have to factor that in next time because we usually think okay, the hotel, the car, and now we have to think gas is a major expense too,” Ordoñez said.

Miami businessman Woodler Henry said the increasing prices are hurting his bottom lines.

“It’s been affecting my budget a lot,” Henry said. “So sometimes, what I’ll do is I will take public transportation one or two days out of the week, probably car pool. And it’s getting to the point where I might just get a scooter.”

Still, prices are still down from where they were a year ago. Last year at this time, regular cost $3.80 in Miami and $3.78 in Fort Lauderdale.

Overall, a gallon of regular unleaded in Florida cost $3.54 a gallon on average. Nationally, the current average is $3.61 a gallon.

But things aren’t all bad on the oil prices front, J.P Morgan Chase analysts said the prices are likely to start to retreat and fall towards $95 a barrel in the coming weeks.

That means prices should start to retreat as school starts back and fall begins.


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