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Volatility expected to last all month

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The average price for a gallon of unleaded regular shot up 13 cents in just three days last week in response to a spike in crude oil prices on the global market.

Motorists were paying $2.53 on average in Florida on Monday compared to $2.40 the previous week and $2.16 a year ago.

Compared to a year ago, it costs an additional $5.50 to fill a 15-gallon tank of gas. To put that in perspective, that’s about the price of a pre-made burger and small bag of chips at 7-Eleven, a “handcrafted” sandwich and drink at Wawa, four roller-grill hot dogs at the RaceTrac station, or almost three 24-ounce Miller Lites at the Love’s truck stop on Okeechobee Road in Fort Pierce.

The biggest spikes are hitting consumers in Tampa (25-cent hike), Orlando (20-cent hike), and Punta Gorda (19-cent hike).

The big jumps came Tuesday, Wednesday and Thursday of last week, and then prices stabilized over the weekend, AAA said.

Prices didn’t rise so sharply in South Florida, primarily because they were already higher than in those northern markets at the beginning of the week.

The average price increased seven cents in Broward County, to $2.56; four cents in Miami-Dade County, to $2.59; and nine cents in Palm Beach County, to $2.63.

Usually oil and gas prices are in steady decline this time of year.

The pump price spurt was a response to a hefty jump in crude oil prices. West Texas Intermediate crude closed at $57.35 on Nov. 6 — highest since June 2015 — and hasn’t fallen much since. On Monday, WTI crude was trading at $56.84 at midday on the New York Mercantile Exchange.

“Our usual autumn pump price plunge was interrupted by rising oil prices,” AAA spokesman Mark Jenkins said. “Fortunately, oil prices let off the throttle last week, allowing gas prices to find what appears to be solid ground. However, motorists should expect gas prices to linger at their current levels this week.”

“Analysts warn that oil prices could be somewhat volatile this week, as the consolidation of power in Saudi Arabia leaves speculators questioning the impacts on global oil supply,” Jenkins said. “Fortunately, domestic oil supply and production made solid gains. If that becomes a trend, oil prices could drift lower and take