Gasoline prices declining; Palm Beach County’s average is $2.31 a gallon

Gas prices are declining.

Gas prices are declining.

With Labor Day over, gasoline prices are once again going down. Gasoline prices have been declining for 12 consecutive days.

Monday, Palm Beach County’s average for a gallon of regular stood at $2.31, down from $2.34 a week ago. Florida’s average is $2.18, down from $2.21 a week ago, and the national average has dropped to $2.17 from $2.20,  according to AAA’s Fuel Gauge Report.

A year ago, Palm Beach County’s average was $2.38.

Regular gasoline is being sold well below the average for $2.09 and a number of stations, according to GasBuddy.com. These include J&A, 4703 S. Military Trail and Melaleuca Lane, Lake Worth; Shell, 4201 Lake Worth Road and Kirk Road, Lake Worth; Exxon, 252 S. Military Trail and Gun Club Road, West Palm Beach, and Costco, 1873 W. Lantana Road, Lantana.

“Gas prices immediately began their seasonal downward trend at the beginning of September,” said AAA spokesman Mark Jenkins. “Refineries are entering maintenance season as they begin the switch to winter-blend gasoline. This fuel has fewer additives, making it cheaper to produce than summer-blend gasoline, which leads to lower gas prices. Gas prices should follow a downward trend through the rest of the year, unless there are refinery issues or if oil prices surge.”

Gregg Laskoski, senior petroleum analyst for GasBuddy, said, “With the kids back in school we’re now at that point when gasoline demand eases and refineries also return to the cheaper ‘winter- blend’ gasoline which should start reaching consumers later this week.

“The national average price of a gallon of gas remains 20 cents lower than the average we saw a year ago, and, coincidentally, the price of the benchmark WTI that opens this week ($46/barrel) is almost identical to where it was a year ago… all  of which aligns with the seasonal retail price decline,” Laskoski said.

 

Reader Comments 0

0 comments