CAPE CORAL, Fla. — The old meme shows a gas station's price sign. Regular costs an "A.RM;" premium, a "L.EG," and diesel? Forget about it. Those joke graphics popped up in the days when $3.15 per gallon was considered exhorbitant.
That's the stark reality many in Southwest Florida are dealing with immediately after Memorial Day, with the average price of a gallon of regular unleaded jumping another 20 cents in some areas.
In Cape Coral the average price as of 5 a.m. Wednesday is $4.75. That is the same high reported by GasBuddy app users in North Port, Naples and Immokalee.
Fort Myers commuters are faring better; around the Edison Mall area prices hover around $4.46 per gallon. Port Charlotte app users report a spread between $4.56 and $4.75.
Oil prices jumped again after European Union leaders agreed on a partial embargo on Russian oil as part of further sanctions on the country in retaliation of its ongoing war in Ukraine.
The cost of oil surpassed $120 per barrel on Monday.