By CBSMiami.com Team

MIAMI (CBSMiami) — Florida gas prices shot up last week, as arctic weather wreaked havoc on the Gulf Coast refinery region and caused a surge in fuel prices.

Power outages knocked gasoline refineries in Texas and neighboring states offline and interfered with fuel shipments out of the area.

READ MORE: Johnson & Johnson Single-Shot COVID-19 Vaccine Joining In The Fight Against Global Pandemic

Much of Florida’s gasoline comes from refineries in Texas, Louisiana and Mississippi. So an interruption to the supply line there has a direct impact on prices here. However, Florida is not alone. This region is a major source of gasoline in the United States, accounting for more than 45% of total U.S. petroleum refining capacity. This storm reportedly impacted a little more than half of refinery capacity in the Gulf Coast region.

Although there is not currently a gasoline supply shortage, concerns about reductions in gasoline production caused fuel prices to climb. Crude oil prices rose nearly 3% last week, reaching $61.14 per barrel. Wednesday’s settlement was the highest since January 2020. Wholesale gasoline prices jumped 7% last week, reaching a level not seen since July 2019.

READ MORE: South Florida House Republicans Vote Against President Biden's $1.9 Trillion Pandemic Relief Package

On average, Florida gas prices jumped 15 cents last week. Drivers are now paying an average price of $2.61 per gallon. That’s the highest daily gas price average since July 2019.

“This pump price hike is similar to what you’d expect if a hurricane struck the gulf coast region,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Just like the aftermath of a hurricane, workers are working to return to normal operations. Any reports of extended downtime or significant supply impacts could cause another round of rising prices.”

MORE NEWS: Trump A Dominant Force At Conservative Conference In Orlando

Regional Prices

  • Most expensive metro markets – West Palm Beach – Boca Raton ($2.71), Fort Lauderdale ($2.64), Ocala ($2.63)
  • Least expensive metro markets – Panama City ($2.52), Crestview-Fort Walton Beach ($2.54), Pensacola ($2.57)

CBSMiami.com Team