MIAMI (CBSMiami) – Hey, what’s going on here. Gas prices usually drop at this time of year but now they are going up.
“Usually we’re starting to see cheaper prices during this time, but not this year,” said Devon, a Lyft driver.
Gas prices dropped from a high in May but have been rising since then. According to the American Automobile Association (AAA) prices are up 39 cents compared to this time last year.
“Gas prices are usually cheaper in the fall but this October we’re seeing really high gas prices,” said AAA’s Jeanette Casselano. “A lot of factors are playing into that.”
Friday’s national average for a gallon of regular unleaded was $2.91. In Florida, that gallon is averaging $2.82.
Casselano said political unrest in oil-producing countries and pending US sanctions against oil-rich Iran have pushed crude oil prices to near a four year high.
“So you’ve got higher crude oil prices, you have concern about global supply related to crude oil and geopolitical tensions,” said Casselano.
Various costs go into the price for a gallon of gas, from refining and marketing to taxes, but the price of crude oil is the biggest factor for what we pay at the pump.
“It can pretty expensive to fill up the tank,” said Devon who has to fill up almost every day. He said the higher costs are cutting into his profits.
“I have to budget a little differently and make sure that I can account for ‘okay it’s going to cost me $50 to fill up my tank especially on E (empty) like I am right now’,” he said.
AAA expects gas prices to continue to rise in the near future and it’s not clear when they’ll start going down.