Gasoline prices have been falling for 41 consecutive days, with Florida’s average dipping to $2.15 Monday from $2.19 a week ago, AAA said.
Palm Beach County’s average for a gallon of regular stood at $2.30 Monday, down from $2.34 a week ago, according to AAA’s FuelGauge Report.
“Gas prices continue sliding thanks to low oil prices and increased production of gasoline,” said AAA spokesman Mark Jenkins. “Summertime pump prices are at their lowest level in 11 years, and Americans are hitting the road in record numbers. Although gasoline demand for 2016 is on pace to set a new all-time record, refineries continue to keep the market well supplies, which keeps prices low at the pump.”
Although oil prices are low, they could increase this week depending on what happens in Turkey. Although the country is not a major oil producer, it is an important pipeline area. Oil prices typically rise when there is increased instability in the Middle East.