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.
South Florida’s recent spike in gas prices isn’t coming from the traditional “Supply and Demand” market forces, but rather “Investors” jumping into the commodities markets at the same time a major oil producer threatens to cut exports.
When oil prices go up, gas prices follow. So, shouldn’t the opposite also be true? Maybe not.
South Floridians are feeling the fallout from the Libyan crisis. Wall Street investors returned from the holiday weekend to face the prospect of $100 a barrel oil, and that sent stock prices tumbling.