On the heels of gas prices jumping a dime over the past week in Florida, oil prices are surging to nearly the highest of the year after OPEC nations yesterday announced they will be slashing oil production by more than a million barrels a day starting next month and lasting through the end of the year.
"It's possible based on this movement in oil prices that we could see gas prices increase anywhere from 10 to 15 cents," says AAA's Mark Jenkins.
He adds springtime is often when Floridians pay the highest gas prices of the year due to an increase in demand from tourists and snowbirds, and at the same time supply is reduced during refinery seasonal maintenance.
But the good news is, Jenkins doesn't expect us to be shelling out $4-a gallon for regular anytime soon.