Daytona Beach, FL – Florida drivers could soon see gas prices move higher, as crude oil prices surged overnight after a series of drone attacks on Saudi Arabian oil facilities.
These attacks targeted two huge Saudi processing plants, which knocked out half of the kingdom’s oil capacity and about 6% of what the world consumes every day. Various reports suggest that other countries would ramp up production to offset the shortage.
In response, President Donald Trump authorized the use of the United States Strategic Petroleum Reserve in an effort to balance the market.
“This is a fluid situation which has quickly ignited, but could also flame out – depending on how the market responds over the next couple of days,” said Mark Jenkins, spokesman for AAA. “If oil prices hold at current levels, drivers could see gas prices begin to rise anywhere from 5-20 cents by the end of the week.”
Florida drivers are currently paying an average price of $2.40 per gallon (regular unleaded). The state average is three cents less than a week ago, and 34 cents less than this time last year. The highest daily average price so far this year was $2.80 per gallon; the lowest was $2.12.
Right now, Volusia County drivers are seeing averages hover around $2.40 per gallon, which is on par with the state’s average and a cent less than last week’s.
Flagler drivers are seeing slightly cheaper averages at $2.39 per gallon, which is a cent less than their average last week.
The national average sits at $2.56 as of this morning, which is no change compared to last week.