CAPE CORAL, Fla. — Gas prices hit a high this month reaching an average of $2.74/gallon in Florida.
AAA calculates gas prices rose 30 cents over the last month and may continue to rise due to fluctuating oil prices and an increase in demand.
Ernie Rodriguez says the price hike doesn’t surprise him while filling his truck’s tank at a 7-11.
“You’re at their mercy — they play with you day and in day out,” Rodriguez said.
It might be more complicated than a in oil costs. Shelton Weeks, the chair for the department of economics and finance at Florida Gulf Coast University, says local gas stations change gas prices to keep up with nearby competitors.
“When we see markets, particularly gasoline, where we see prices that change, and there isn’t a clear reason for why the prices change that’s a macro-type motivator, it’s because we see what’s called price cycling,” Weeks said.
