GAS PRICES DOWN 5¢ IN STATE, JUST 3¢ HERE
However, pumps in Palm Beach County fail to follow trends.
Gas prices retreated 5 cents statewide over a week as oil costs eased, but drivers saw a less generous drop of 3 cents in Palm Beach County, where average station prices stayed more “sticky” and remained the state’s highest. The average cost per gallon in the county hovered at $2.86, outpacing a national average of $2.84 that backpedaled 4 cents over the week, motorist group AAA said Monday.
“Oil prices averaged $3 to $5 less (per barrel) than the previous three weeks, allowing gas prices to lose value,” said AAA spokesman Mark Jenkins. “Although prices are lower, there is still volatility at the pump as gasoline demand remains high during the summer driving season and global supply concerns persist.”
Sunday’s state average of $2.75 remains 3.5 cents more than a month ago and 55 cents more than this time last year. Still, it beats a summer average of $3.50 in 2014
and a high of $4.08 in 2008. U.S. crude oil production reached 11 million barrels per day, though gasoline stocks dropped as demand rose, according to
the Energy Information Administration.
Crude oil accounts for 56 percent of the price at the pump, refining adds 18 percent, distribution and marketing chip in 10 percent and taxes tack on an aver-
age of 18 percent, according to EIA.
In West Palm Beach, prices Sunday ranged from $2.62 at Sam’s Club on 45th Street to $2.89 at Shell, BP and Citgo stations in the city, according to price-tracker GasBuddy.
In Royal Palm Beach, the lowest reported price was $2.64 at Costco on Southern Boulevard while Mobil on Royal Palm Beach Boulevard checked in at $2.79.
In Palm Beach Gardens, Sunoco on PGA Boulevard emerged as the low-priced leader at $2.64 and two Shell stations on the same road charged $3.19.
A price difference up to 55 cents per gallon highlights how much prices can vary in the same city, meaning it can pay to keep an eye on the station signs and drive a few more blocks when the spread is so wide.