Despite a drop in gasoline demand in the days following the Fourth of July holiday, prices at the pump have inched three cents higher over the past week.
The main cause behind this upward trend is the surge in oil prices, which escalated from the upper $60 per barrel range to more than $70.
According to the latest data from the Energy Information Administration, gasoline demand experienced a significant decrease last week. If oil prices continue their upward trajectory, it is likely that pump prices will follow suit, putting additional pressure on consumers’ wallets.
As of Friday, the national average for gasoline stands at $3.75 per gallon. In the Miami-Dade area, prices are slightly lower at $3.44 per gallon, while in Broward, they are slightly higher at $3.47 per gallon.
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