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Florida gas prices rose 15 cents after second week of rising oil prices

Midwest Communications

A AAA spokesperson says it's partially due to China's plan to reopen its economy.

Florida gas prices rose 15 cents last week after a second consecutive week of rising oil prices.

The state average reached $3.41 per gallon on Sunday. That's a new 2023 high and the highest daily average price since Nov. 24.

"Florida drivers might be surprised to hear that China is having a direct impact on what they pay at the pump," said Mark Jenkins, Public Relations Manager, AAA - The Auto Club Group. "During the past two weeks, oil prices have made strong gains on the belief that fuel demand will ramp-up as China reopens its economy. China is the largest oil importer in the world, and since oil is a globally traded commodity, global fluctuations in supply and demand have a direct affect local prices - just as they always have.

"Retail prices appear to have mostly adjusted to the recent oil price gains. Where gas prices go from here will be contingent on what happens in the oil market this week," Jenkins said.

Despite that, Sunday's state average is 18 cents per gallon less than this time last year.

The most expensive market is West Pam Beach- Boca Raton at$3.61. The least expensive market is Panama City at $3.22.

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