BRADENTON -- Gas prices have hit an average of $3.62 a gallon, making Bradenton home to the most expensive gas on Florida's west coast.

Prices have been soaring since the New Year; they're up almost 50 cents on average, statewide.

In Tampa, gas prices start the week at $3.55, and in West Palm Beach, a gallon of regular unleaded will cost $3.68 on average - the most expensive in the state.

Industry insiders say prices could soar to $4 a gallon by Memorial Day.

This time of year, fuel companies are transitioning from winter to summer blends, which have to burn cleaner and are more expensive.

With spring break approaching, fuel demands are increasing.

And relations between Israel and Iran are fueling the concerns of speculators. Iran is home to the second-largest oil producing company in the world.

Traditionally, gas prices spike this time of year, followed by a slow decrease in pricing over the summer months.