Air strikes on Saudia Arabian oil facilities could mean rising gas prices here in Florida.
After the strikes over the weekend, Saudi Arabia is cutting back about 5 percent of daily crude supplies produced worldwide, leading to potential supply shortages in the fuel market. Saudi Arabia cut back about 5.7 million barrels, and oil prices across the world have soared.
AAA’s Mark Jenkins says the cutback could influence gas prices as early as Tuesday. Crude oil spiked by $8 a barrel Monday.
“That kind of an increase can directly lead to an increase of about 10-25 cents at the pump,” said Jenkins.
Floridians may be feeling the impact sooner than later.
“In some markets it may hit all at once; in some it might be more of a gradual increase, but something that drivers will most likely begin to see [is] gas prices rising maybe as early as tomorrow.”
On average, Florida drivers paid $2.40 per gallon. Orlando is one of the least expensive markets at $2.36 per gallon, while some of the most expensive markets include Panama City, West Palm Beach-Boca Raton, and Tallahassee.
The state average is 34 cents less than it was one year ago, and the highest daily average price this year was $2.40 per gallon.
According to reporting from NPR, the U.S. said Iran played a key role in the drone strikes, but Yemen's Houthi rebels claimed responsibility. Secretary of State Mike Pompeo claimed there was no evidence the attacks came from Yemen, but Iran denies having done it.