Gas prices likely to stay where they are

It looks like the slow, steady decline of gasoline prices is about to come to an end, travel club AAA said.

The average retail price for a gallon of unleaded regular in Florida dropped another 2 cents last week to $2.40 and is set to stabilize this week amid rising wholesale gas and crude oil prices, AAA spokesman Mark Jenkins said.

“The streak of falling prices should come to an end this week,” Jenkins said.

“Continued growth in oil inventories will keep a ceiling on oil prices, and prevent gasoline prices from making strong gains. While there could be some volatility, gas prices should follow a mostly downward trend through the rest of the year. However, the discount at the pump is not currently forecast to be much lower than present levels.”

If the price declines have ground to a halt, that means the average price is unlikely to settle below the average $2.31 Florida motorists were paying on Aug. 25 as Hurricane Harvey targeted the refinery-rich Gulf Coast region.

The quick-succession impacts of hurricanes Harvey and Irma lowered production and heightened demand, and the average price in Florida quickly spiked to $2.73 by Sept. 9.

Even though refinery capacity is now back to pre-Harvey levels, increased gasoline and crude oil demand on the international market are keeping gas prices from returning to pre-Harvey levels as well, Jenkins said.

Average prices in South Florida remained significantly higher on Monday than in other metro areas to the north — a result of higher local taxes and a general higher cost of doing business.

The average pump price was $2.52 in Broward County, $2.56 in Miami-Dade County and $2.55 in Palm Beach County, according to AAA’s daily gas price chart.

But as always, bargains could be had for motorists who know where to look.

The price-comparison website GasBuddy.com reported that Palm Beach County drivers were filling up for $2.28 a gallon at three locations around Northlake Boulevard and Old Dixie Highway in Lake Park — Sunoco, Marathon and Speedway, as well as at RaceTrac and Murphy USA on North Congress Avenue north of Silver Beach Road. Farther south in Lake Worth, the same price could be found at Marathon and Speedway on North Congress Avenue and Shell on Lake Worth Road and Kirk Road.

Broward County motorists weren’t so fortunate, with just three stations reported below $2.30 — Rocket Fuel at Johnson Street between North University Drive and Florida’s Turnpike in Pembroke Pines, U-Gas on Stirling Road and Davie Road in Davie, and Speedway at North University Drive between Stirling Road and Sheridan Street in Davie. All three were selling at $2.29.

The lowest price in MiamiDade County was $2.31 at four stations on South State Road 7, just north of Miami Gardens Drive in Miami Gardens.