Palm Beach County gas price average up 2 cents from a week ago, AAA says

Gasoline prices are rising.

Gasoline prices are rising.

The average for a gallon of regular rose to $2.46 Monday in Palm Beach County, up from $2.44 a week ago, according to AAA’s Fuel Gauge Report.

But gasoline could soon be on the rise as spring approaches due to refinery maintenance, an increase in driving and the switch to summer-blend fuels, AAA said.

Monday, the county’s lowest priced gasoline was $2.19 a gallon at 7-Eleven, 1730 S. Military Trail, and Exxon, 3066 N. Military Trail, both in the West Palm Beach area, as reported on GasBuddy.com

Other stations selling well below the average include:

$2.21, J&A, 4703 S. Military Trail, suburban Lake Worth; Citro, 2765 W. Forest Hill Blvd., West Palm Beach; Costco, 1873 W. Lantana Road, Lantana; Costco, 11001 Southern Blvd., Royal Palm Beach

$2.23, BJ’s Wholesale Club, 1540 W. Boynton Beach Blvd., Boynton Beach

$2.24, Murphy USA, 103 N. Congress Ave., Lake Park

“Crude oil continues to drive the market,” said AAA spokesman Josh Carrasco. “Domestic oil production and a glut in oil and gas supplies are keeping a lid on prices at the pump. The best time to fill up your tank is now because, historically, gas prices begin to climb until we reach Memorial Day.”

Gas prices generally peak around Memorial Day. In fact, in six of the past 17 years, the seasonal peak has taken place between May 9th and May 24th. Historically, between February and the peak price, the average annual increase is about 54 cents per gallon. Several factors contribute to this annual increase including, refinery maintenance, the switch to summer-blend fuels which are more expensive to produce and an increase in demand as more people begin traveling in the spring and summertime.

EIA reports showed U.S. oil production held steady at 8.97 million barrels a day, continuing to offset OPEC’s efforts to increase oil prices.

OPEC’s Monthly Oil Market Report stated that participating countries successfully implemented 90 percent of the agreed production cuts they pledged in last year’s historic deal.

Reader Comments 0

0 comments