ORLANDO, Fla. – Central Florida drivers may have noticed a spike at the pump this week.
Experts told News 6 that there are several factors, including time of year and demand, causing gas prices to increase.
The price of gas in Orlando is up more than 32 cents from last year at this time, according to AAA. A gallon of regular unleaded in the Orlando metro area Tuesday was priced at $2.32.
The reason for the increase boils down to demand and oil prices, AAA spokesman Josh Carrasco said.
Oil prices are rising. Tuesday a barrel was $51.03 and may rise again. Oil prices are $3.69 more than their lowest point, on March 21, and nearly $17 more than spring last year, according to AAA.
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Another contribution to the rising cost is that demand rose 3.5 percent more than the highest level since September. Gulf Coast gas inventories fell by about 1.5 million barrels and by 4 million nationally.
“Anytime there is an increase in demand and a decrease in inventory, you normally see an uptick in prices,” Carrasco said.
Carrasco said it’s also around this time of year people travel for spring break.
The cost of producing gas also usually goes up in the spring.
Before the summer months start, fuel refineries begin to transition to producing summer-blend fuel, mandated by the Environmental Protection Agency, which costs more to produce than winder-blend fuel, Carrasco said.
Refiners have until May 1 to switch to the summer blend and gas retailers have until June 1..