Florida drivers are inching closer to a painful milestone at the pump, with the average price of regular gas sitting around $3.94 per gallon and rising, the highest since August 2022. According to GasBuddy’s head of petroleum analysis Patrick De Haan on The Ryan Gorman Show, crossing the $4 threshold is “pretty likely” in the coming days, as global energy markets remain under pressure.
Much of the volatility stems from ongoing disruptions in the Strait of Hormuz, a critical shipping route for oil. De Haan explained that limited movement through the strait is tightening global supply, creating ripple effects that are already being felt in Florida. “We’re just a couple of cents a gallon away from that now,” he said, pointing to the growing likelihood of higher prices as early as next week.
Florida has been hit particularly hard compared to other states, largely due to its exposure to global fuel markets. Fuel shipments arriving at ports like Tampa and Port Everglades can easily be redirected overseas, especially as U.S. fuel exports increase. At the same time, countries like China are scaling back refinery output, further straining supply and putting upward pressure on prices along coastal regions like Florida.
Meanwhile, diesel prices have surged even higher, topping $5 per gallon across the state. De Haan noted that tight inventories—driven in part by increased winter demand and reduced production—are fueling the spike. Because diesel powers much of the economy, from trucking to agriculture, the impact could extend well beyond the gas pump.
Looking ahead, De Haan says the situation may not stabilize anytime soon. As long as disruptions in key global shipping routes continue, prices are expected to remain elevated for weeks, if not months. Each day of disruption, he warned, could translate into a longer recovery period for supply chains.
For now, drivers are left watching prices climb while hoping for relief that may not come quickly. And while some oil benchmarks remain below recent highs, others are surging well above $100 per barrel, highlighting the uncertainty still gripping global energy markets.
Listen to the full episode of The Ryan Gorman Show for more insight, including the surprising factor driving diesel prices even higher and what it could mean for your daily costs in the weeks ahead.