Gas prices on the rise: Analysts say national average will be $3.95 by late May, PBC even higher

The national average is now at $3.51, about 40 cents higher than what it was a year ago. 

Across Florida and much of the Treasure coast, prices are at $3.63 on average per gallon, and ten cents higher in Palm Beach County.

 

If the pattern continues, analysts predict the national average will be $3.95 by late May, with Florida and Palm Beach County average prices 10 to 20 cents higher.

 

Rising tensions in the Middle East, the Iranian threat to close vital shipping lanes, reduced refinery capacity and the more expensive switch to summer grades of gasoline could contribute to the prices.

 

Food products that are trucked to stores will also cost more, because distributors will have rising costs for shipping items to stores and warehouses.