Gas prices continue to fall

By Palm Beach Business.com

DELRAY BEACH — Gasoline prices dropped by about eight cents over the past week, the U.S. Energy Information Administration reported Monday. Local prices, however, remain far from a bargain.

Diesel dropped by nearly 15 cents over the same time.

A gallon of regular averages  $3.809 nationally, compared with $3.88 a week ago and $4.113 a month ago. The all-time high: $4.114 six weeks ago.

All grades combined average $3.864 a gallon, down from $3.9355 a week ago and $4.164 a month ago.

In Florida, regular averages $3.80 a gallon, down from $3.884 a week ago and $4.051 a month ago. The all-grades average for the Sunshine State: $3.87 a gallon, down from $3.955 a week ago and $4.116 a month ago.

The reason behind the fall is simple: Crude oil, which now makes up about 70 percent of the price of a gallon, has dropped about $31 a barrel over the past month to about $114 on Monday.

AAA, meanwhile, said put the Palm Beach County average for regular at $3.918 a gallon, down from $4.164 a gallon a month ago. As per usual the county has the highest prices of any metro area in Florida.

Diesel dropped to $4.353 from $4.503 a week ago and $4.764 a month ago, according to the EIA.

In Palm Beach County, diesel averaged $4.623 a gallon, according to AAA, down from $4.894 a month ago.