Florida gas prices reach new high

On Thursday, gas prices in Florida soared to a new record high. People in the Sunshine State woke up to a $4,398 average cost. The average on Wednesday was $4,321 and one week ago it was $4,176. The national average is just slightly higher at $4.41 .WFLA reports on Wednesday, Agriculture and Consumer Services Commissioner Nikki Fried issued an emergency rule Wednesday morning which she said will increase the gas supply throughout the state and help lower prices. The rule, which Fried announced at a Tampa news conference, will allow gas stations to sell gasoline containing 15% denatured anhydrous ethanol, or E15, which is usually sold in the winter months. Fried said this will immediately save Floridians 10 cents per gallon at the pump.“This rule allows Florida suppliers to utilize additional fuel types to secure a consistent and affordable supply of gas,” she said.In April, a fallback in gas prices helped slow overall inflation. Nationally, average prices for a gallon of gas fell to as low as $4.10 in April, according to AAA, after having spiked to $4.32 in March. But since then, gas prices have surged to a record $4.40 a gallon. Consumer prices jumped 8.3% last month from a year ago, the government said Wednesday. That was below the 8.5% year-over-year surge in March, which was the highest since 1981. On a monthly basis, prices rose 0.3% from March to April, the smallest rise in eight months. Those price jumps “make clear that there is still a long way to go before inflation returns to more acceptable levels,” said Eric Winograd, US economist at asset manager AB. Even if it moderates, inflation will likely remain high well into 2023, economists say, leaving many Americans burdened by price increases that have outpaced pay raises. The Associated Press contributes to this article

On Thursday, gas prices in Florida soared to a new record high.

People in the Sunshine State woke up to a $4,398 average cost.

The average on Wednesday was $4,321 and one week ago it was $4,176.

The national average is just slightly higher at $4.41.

WFLA reports on Wednesday, Agriculture and Consumer Services Commissioner Nikki Fried issued an emergency rule Wednesday morning which she said will increase the gas supply throughout the state and help lower prices.

The rule, which Fried announced at a Tampa news conference, will allow gas stations to sell gasoline containing 15% denatured anhydrous ethanol, or E15, which is usually sold in the winter months. Fried said this will immediately save Floridians 10 cents per gallon at the pump.

“This rule allows Florida suppliers to utilize additional fuel types to secure a consistent and affordable supply of gas,” she said.

In April, a fallback in gas prices helped slow overall inflation. Nationally, average prices for a gallon of gas fell to as low as $4.10 in April, according to AAA, after having spiked to $4.32 in March. But since then, gas prices have surged to a record $4.40 a gallon.

Consumer prices jumped 8.3% last month from a year ago, the government said Wednesday. That was below the 8.5% year-over-year surge in March, which was the highest since 1981. On a monthly basis, prices rose 0.3% from March to April, the smallest rise in eight months.

Those price jumps “make clear that there is still a long way to go before inflation returns to more acceptable levels,” said Eric Winograd, US economist at asset manager AB.

Even if it moderates, inflation will likely remain high well into 2023, economists say, leaving many Americans burdened by price increases that have outpaced pay raises.

The Associated Press contributes to this article

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