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AAA: Gasoline prices continue to rise

By Palm Beach Business.com

DELRAY BEACH — The end is near. Maybe.

Pump prices rose by 8 cents nationally over the past week and 11 cents in Florida as circumstances — a refinery fire in California and a pipeline leak in the Midwest — continue to conspire against motorists, AAA reports. Prices are up more than 40 cents a gallon since the beginning of July.

The one hopeful note is the approaching end of the summer driving season, which could cool down prices as demand traditionally drops off.

“So much occurred in the last couple of weeks that has led to current pump prices,” AAA spokeswoman Jessica Brady said. “Elevated oil prices, domestic supply disruptions, tropical storms and more have led to the spike at the pump and it looks as though prices will continue to increase throughout the month. Hopefully, retail prices will drop after the Labor Day holiday when demand tends to fall and we switch to a cheaper fuel blend.”

On Friday, Crude oil settled at $92.87 a barrel on the New York Mercantile Exchange, up $1.47 for the week. Gasoline futures pushed above $3 a gallon, settling at $3.0039.

At the pump, gasoline nationally averaged $3.69 a gallon, up 8 cents, while in Florida, regular averaged $3.74, up 11 cents. Locally, regular averages $3.761 a gallon in Palm Beach County, according to AAA, up a little more than 8 cents; in Broward, the average is $3.73, up more than 9 cents.