Average retail gasoline prices in the Naples area increased 12.2 cents per gallon in the past week, averaging $3.58 per gallon Sunday.
Florida’s average price of $3.54 per gallon increased 16 cents in the past week, while the national average increased 12.6 cents per gallon to $3.47 per gallon, according to NaplesGasPrices.com.
Prices in Naples on Sunday were 80.1 cents per gallon higher than the same day one year ago and are 42.7 cents per gallon higher than a month ago. The national average has increased 36 cents per gallon during the last month and stands 73.6 cents per gallon higher than this day one year ago.
A new survey says the average price of regular gasoline in the U.S. has jumped 33 cents per gallon in the last two weeks. The Lundberg Survey of fuel prices released Sunday says it's the second biggest price increase over a two-week span on record.
Billings, Mont., had the lowest average price among cities surveyed at $3.15 a gallon for regular. San Diego was the highest among surveyed areas at $3.87.
As unrest in the Mideast and Libya continued to escalate last week, so did the price of crude oil. For the first time since September 2008, the price of oil closed above $100 a barrel.
Protests in Libya continue to cause concern the unrest will spread to larger oil producing countries and disrupt oil supply. In addition, reports showing the U.S. unemployment rate fell to 8.9 percent, the lowest level since 2009, also drove up the price of oil.
“Although the unrest in Libya has not yet spread to larger oil-producing countries and has not further disrupted oil supply, the concern of a supply shortage remains,” said Jessica Brady, spokeswoman for AAA Auto Club South. “Retail gas prices will continue to increase again this week and many motorists will see prices at or above $3.50 a gallon. Now is the time for consumers to start applying those fuel-efficient measures in an effort to get every mile out of each gallon of gas.”