Gas prices dip slightly as crude remains stable

Gasoline prices in Florida held pretty much steady — dropping less than a penny — over the past week as hurricane-related demand vanished and global crude oil prices stabilized, travel club AAA reported.

Gas prices on Monday averaged $2.25 in Florida. Because of rounding, that’s the same average price as the previous week despite a decrease of eight-tenths of a cent. AAA says the Florida average decreased seven of the last eight days but those decreases totaled only 1 cent.

With the demand surge prompted by Hurricane Matthew now in the rear-view mirror, Florida’s average is “about where it should be, based on current market conditions and may not see dramatic drops unless oil prices do,” AAA said in its weekly news release.

Crude oil prices have stabilized as well, AAA said, and the price of West Texas Intermediate crude logged the same average last week — $50.62 — as the week before. Leaders of OPEC countries are rumored to be discussing ways to bolster prices by cutting production.

“Gas prices typically follow a downward trend through the final months of the year,” said Mark Jenkins, spokesman of AAA The Auto Club Group. “Last year, the national average dropped about 25 cents from Columbus Day through Thanksgiving. During that time, oil prices fell almost $10 a barrel. A drop like that is less likely to occur this year, as the price of oil will likely hold steady at around $50 a barrel until OPEC’s meeting next month.”

Prices in South Florida, while higher because of local taxes, also held steady over the previous week. The $2.32 average in Broward County and $2.38 average in Palm Beach County were unchanged over the previous week, while the $2.33 average in Miami-Dade County was down a penny.

Bargains could be found Monday for motorists willing to look. In Lake Worth, a Sunoco on Hypoluxo Road and South Military Trail was selling for $2.13, the lowest price available in Palm Beach County without a wholesale club membership, according to GasBuddy.com, a price-comparison website.

Broward motorists could find $2.17 a gallon at two Valero stations: at Northeast 15th Avenue and Wilton Drive in Wilton Manors, and at East Atlantic Boulevard and Federal Highway in Pompano Beach.

Miami-Dade bargain hounds, meanwhile, could find $2.18 a gallon at Murphy USA at Northwest 95th Street and West 20th Avenue in Hialeah Gardens.