WEST PALM BEACH, Fla. -- The price of a gallon of gas is down despite an increase in the price of a barrel of oil, AAA said.
Mark Jenkins, AAA spokesperson for the Auto Club Group, said prices had started to fall despite the possibility of a U.S.-led air strike against Syria.
“This is the time of year when gas prices typically drop,” Jenkins said. “We’ve passed the busy summer driving season so demand is down. Gasoline supplies are higher than they were a year ago, and this is the first time in 11 years that we've finished August without a hurricane.”
Syria does not produce oil, but there’s concern that escalating tensions could spillover into surrounding countries, potentially disrupting Middle East oil exports.
“Continued discussions of a possible air strike has caused uncertainty in the market and that’s keeping upward pressure on oil prices,” Jenkins said.
The cost for a barrel of oil closed last Friday at $110.53 (107.65) on the NYMEX — $2.88 more than the week prior.
The national average price of regular unleaded gasoline is $3.57, two cents less than last week. Florida's average of $3.54 decreased two cents from last week.
In West Palm Beach and Boca Raton, the average price of regular unleaded gasoline is $3.65.
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