JACKSONVILLE, Fla. — It's no secret that gas prices in the First Coast are going up.
On Monday, around 2 p.m., a gallon of regular gas at the Shell gas station in San Marco was $3.99.
Just hours later, the rate increased to $4.19.
Professor Abdel Missa, a resource professor of finance at Jacksonville University, said the price of gas could fluctuate and only time will tell how high or low the numbers will go. When he is not teaching classes, he's watching the finance market in real time. That includes the price of gas.
"It's a simple problem of supply and demand," Missa said.
It's a problem that people haven't had to experience since 2008.
Missa believes the cost of gas could go higher. From his perspective, the price could move up to $5 per gallon "before things get better".
According to the US Energy Information Administration, the price of gas in Florida is always rising and falling. This past February, gas was $3.43.
The JU professor said the animosity between Russia and Ukraine could determine how soon people in the US can see a price drop.
"Right now we [The US] import about 700,000 barrels a day from Russia," Missa explained.
Reports show Biden Administration officials are traveling to multiple countries including: Saudi Arabia, Japan, Spain, Venezuela and maybe Israel.
They're looking to rely on other countries to replace Russia's oil.
First Coast News caught up with Marty Stier while he was filling up his tank. He shared how the prices are not bothering him as much compared to other drivers.
"Yes the prices are going up but if you consider what's happening in Ukraine right now can we give up a few months of high prices 'till we get that situation settled?" Stier asked.
For now, Missa suggested being patient.
"Stay calm and follow what's going on," Missa said. "Hopefully, we can come up with a solution."