AAA monitoring possible gas price spikes from re-imposed Iran sanctions

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In California and Hawaii, gas prices are approaching $3.70 a gallon, almost a dollar higher than the national average.

A spokesperson for AAA Colorado said as of Sunday, the Stinker Sinclair location at 7268 S. Tuscon Way in Englewood, had the cheapest gas in the area at $2.49 a gallon. That was followed by Tallahassee and Fort Lauderdale where prices stood at $2.85 per gallon Sunday.

"The geopolitical tensions prompted by the White House decision to re-impose sanctions on Iran, combined with higher crude oil prices, growing global demand, shrinking supply, and the seasonal switchover to summer blend gasoline are all combining to drive up prices at the pump", said Lloyd Albert, AAA Northeast senior vice president of public and government affairs.

As we head into the summer, gas prices are going up.

Gas prices saw one of the largest weekly increases since Hurricane Harvey in the last week as oil prices continued to surge, leading to sharply higher prices at the pump, putting the U.S.in peril of striking the $3/gallon level for the first time since 2014. That's 20 cents in the last month, according to AAA.

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The national average is $2.86 per gallon.

The most costly gasoline in the U.S.is in California, where a gallon of regular is $3.69 on average, AAA said.

On the plus side, AAA says airfares are down seven percent as compared to last Memorial Day, with an average price of $168 for a round-trip flight along the top 40 domestic routes and auto rental prices are down 11 percent.

The West Palm Beach-Boca Raton market easily had the most expensive gas in Florida with prices averaging $2.92 per gallon.

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