Florida’s chief state economist warned lawmakers on Wednesday that rising gas prices would be an early sign that the conflict between Israel and Hamas is impacting Floridians financially.
Amy Baker, the coordinator of the Legislature’s Office of Economic & Demographic Research, gave a presentation on the state of the economy to the Senate Appropriations Committee and mentioned that slowdowns in the travel industry would be another area to keep an eye on.
Florida has not seen any impact on gas or tourism since Hamas began its unexpected strike on Israel over the weekend.
“Other than some early speculation, we’re not seeing it in gas prices yet,” Baker said after being asked by Sen. Gayle Harrell, R-Stuart. “But that’s where we would think about it first.”
In the news: Florida Gov. DeSantis Says Left-Wing Pro-Hamas Protests Reveal “A Sickness In Our Society”
Following Saturday’s terror attack, which caused crude oil to surge 4% on the global market, financial markets got uneasy, but then the anxiety subsided.
According to the AAA auto club, the average cost of a gallon of regular unleaded gas in Florida on Thursday was actually thirteen cents less than it was a week ago.
Chairman of the Senate Appropriations Committee, Sen. Doug Broxson (R-Gulf Breeze), expressed his “optimism” that there won’t be any lasting effects.
“I don’t think we’re overly concerned yet,” Broxson said after Wednesday’s meeting. “I wish we were producing more domestic product. But that’s the reality that we’re in right now, and we’ll have to adjust to it.”
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