Pump prices for gasoline drop but futures rise

By Palm Beach Business.com

DELRAY BEACH — Gasoline prices are down about 2 cents nationally, slightly more in Florida, according to the U.S. Energy Information Administration.

The EIA, in its weekly report on fuel prices released Monday evening, said the price of a gallon of regular is averaging $2.798 a gallon nationally, down 2.1 cents over the previous week. A month ago, regular averaged $2.702 a gallon.

In Florida, regular was slightly more expensive, averaging $2.807 a gallon, down 2.6 cents over the previous week, according to the federal agency. A month ago, the average price was $2.743 a gallon.

Prices essentially were unchanged in Palm Beach County over the week, according to Tuesday’s AAA Fuel Gauge Report, coming in at $2.911 a gallon. Broward County prices were down nearly a penny and a half at $2.864 a gallon.

AAA is forecasting steady or declining prices in the near term based on larger than expected reserves; however gasoline futures were up more than 6 cents to $2.27 a gallon Monday, and crude Oil was up more than $2.50 to $82.50 a barrel.

EIA said diesel was down nationally, but by a lesser margin, at $2.939 a gallon compared with $2.946 a gallon a week ago. A month ago, diesel averaged $2.861.

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