It doesn’t take a lot to push up gas prices, and even just the thought of conflict rising once again in Iraq has done just that, breaking a downward streak of more than 50 days in Florida.
“Motorists should be ready for gas prices to increase around 5 to 10 cents,” said AAA spokesman Mark Jenkins, in a release. “The price hike could continue depending on the duration of this conflict.”
Violence has erupted in northern Iraq from a militant group known as the Islamic State in Syria and Iraq, which has already taken control of two major cities, including Mosul and Tikrit.
Crude oil prices had its biggest weekly gain of the year so far thanks to that violence, with a barrel of oil closing at $106.91, more than $4 over what it was the week before at $102.66, according to AAA. Iraq is the second largest crude oil producer in the Organization of the Petroleum Exporting Countries, or OPEC, and there is concern in that group that violence could spread to the main oil-producing areas of the country.
The conflict also could delay the re-opening of a key pipeline in the region that has been closed since March, AAA officials said.
Florida, nor the nation, have yet to see a direct uptick in prices. Regular unleaded in the state was $3.57 Sunday, down a penny from a week ago, and 8 cents from a month ago. The national average is $3.66, also down a penny from a week ago, but just 2 cents from a month ago.
