Daytona Beach, FL – Gasoline prices nationwide – including in Daytona Beach – continue to free-fall along with the price of crude oil.
The latest AAA Fuel Gauge Report shows that the average for a gallon of regular unleaded in the Daytona Beach area is now $1.86 as of Monday morning. That’s 7 cents under the same time a week ago and 21 cents under the same time a year ago.
Prices at the pump are dropping at a rate of about a half cent a day, according to AAA spokesman Mark Jenkins.
“Oil prices dropped like a rock last week and took gas prices with them,” Jenkins added. “The low price of crude remains the primary contributor to discounts at the pump, making it cheaper to produce gasoline.”
A barrel of crude fell to $26.55 – the lowest it’s been since May 2003 – last week before climbing back up to $32.19 last Friday.
Jenkins says the national average price for a gallon of regular unleaded is $1.83, which is 7 cents lower than a month ago and 21 cents lower than this time last year.
“Gas prices could slip another 5 to 10 cents to align with current crude levels, but if oil prices gain solid ground this week, the gas price drop could come to an end,” Jenkins noted. “Even if oil remains the same, gas prices could start inching up in the next couple of weeks as refinery maintenance season begins.”
The average price for gasoline is under $2 a gallon in 38 states, per AAA. That includes Florida, where it’s been under that mark for the past 23 days, according to AAA stats.
GasBuddy.com spokesman Gregg Laskoski says Winter Storm Jonas played a role in keeping prices low as did a glut of oil in the market, making inventory the highest it’s been in over 15 years.
Copyright 2016 Southern Stone Communications.