Published: Thu, February 15, 2018
Economy | By

Gas prices 6 cents higher but will start to decline

Gas prices 6 cents higher but will start to decline

Prices at the pump have fallen, slightly, at the start of this second week in February.

As a result, the average price in Florida for a gallon of unleaded regular dropped 4 cents since Thursday and averaged $2.64 on Monday.

At $2.58, the national gas price average has decreased for the first time week-over-week this year.

Las Vegas- $2.73/g, up 3.3 cents per gallon from last week's $2.70/g.

Motorists across the United States are looking at the first weekly decline this year in gas costs. For 78 percent of states, that meant gas prices were less expensive than the previous Monday, according to AAA. Hitting its highest level this year, gasoline demand registered at 9.1 million b/d, a 169,000 b/d increase year-over year.

Rising gas prices can be attributed to a number of factors, he said.

"Expect volatility at the pump as these forces collide", he said.

$2.25 per gallon in 2017; $1.45 per gallon in 2016; $2.19 per gallon in 2015; $3.28 per gallon in 2014; and $3.62 per gallon in 2013. According to the U.S. Energy Information Administration, prices began to shift midway through last week with gains in both domestic production and inventory.

Drivers in the West Palm Beach-Boca Raton market paid the state's highest average price, at $2.74. The cheapest gas was $2.57 in Pensacola and Tallahassee. The website credits significant swings in the stock market and oil prices falling below $60 a barrel. "But don't get too giddy- there are still some gray clouds on the horizon".

Like this: