Motorists continued to see a slow decline in prices at the pump this past week. Palm Beach County’s average for a gallon of regular fell to $2.43 Monday from $2.45 a week ago.
Florida’s average dipped to $2.28 from $2.30, according to AAA’s Fuel Gauge Report.
At least a dozen Palm Beach County gas stations are selling regular Monday for $2.16 a gallon, according to Gasbuddy.com. Among them are Speedway, 3965 S. Congress Ave and Lake Worth Road and Sam’s Club at 4295 4th Street, West Palm Beach.
“Increased domestic oil production and low seasonal demand continue to push gas prices lower,” said Josh Carrasco, spokesman, AAA – The Auto Club Group. “Oil and gas inventories are above-average for this time of year, which should continue to keep downward pressure on pump prices in the short-term.”
Crude inventories increased by 6.5 million barrels and gasoline inventories rose by 3.9 million barrels, which are historically above the norm for this time of year, the Energy Information Administration reports.
Prices at the pump are expected to remain relatively stable to round out the winter. However, motorists should expect gasoline prices to increase in the spring as demand increases and refineries switch to summer-blend fuels, AAA said.
Industry analysts expect gas prices will likely rise to an average of $2.50 to $2.80 per gallon this spring. Nationally, the EIA expects gas prices to average $2.38 in 2017, which is 23 cents higher than the 2016 average.