Gasoline prices drop more than a dime; Palm Beach County still highest in Fla.

By Palm Beach Business.com Staff

DELRAY BEACH — The months-long surge in gasoline and diesel prices seems to over. At least for the moment.

The U.S. Energy Information Administration’s weekly survey of retail prices found that regular gasoline has dropped more than a dime over the past seven days — to $3.955 a gallon from $4.064. A month ago, gasoline averaged $4.095 a gallon.

The drop coincides with a decline in crude oil prices in recent weeks. West Texas Intermediate crude for September delivery settled at $122.19 a barrel Tuesday. That’s the lowest price since May and down from the all-time high of more than $147 a barrel set July 11.

Gasoline inventories are higher, according to the EIA, and the Transportation Department this week reported that Americans are driving fewer miles. The dollar also gained strength, helping to bring down prices.

In Florida, a gallon of regular averages $3.966, the EIA found, down from $4.036 a week ago and $4.024 a month ago.

The average price for all grades of gasoline combined sat at $4.01 nationally, down from $4.118 a week ago and $4.146 a month ago.

The all grades average in Florida: $4.035 a gallon, down from $4.105 a week ago and $4.091 a week ago.

In Palm Beach County, AAA’s Tuesday survey found regular averaging $4.052, down from the all-time high of $4.183 a gallon set July 17. Gasoline under $4 has been spotted in Delray Beach.

Palm Beach County still has the highest prices in Florida, according to AAA, one of three metro areas in the state still above $4 a gallon.

Diesel has dropped similarly: EIA reported the national average at $4.603, down from $4.718 a week ago and $4.645 a month ago.

AAA said diesel averaged $4.813 in Palm Beach County, down from $4.921 a gallon, the all-time high set July 18.