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Florida gas prices drop for the 30th day in a row

Posted at 6:33 AM, May 22, 2017
and last updated 2017-05-22 09:45:23-04

As Memorial Day weekend approaches, AAA says gas prices are down for the 30th day in a row.  The most expensive average is in the West Palm Beach/Boca Raton area. 

RELATED: Gas prices in Palm Beach County, Treasure Coast

Prices during the Memorial Day weekend are expected to be slightly higher than last year.

 

The state average of $2.30 is 10 cents more than this time last year, according to AAA. National gas prices are $2.35.

The data is collected from credit card swipes and direct feeds from 120,000 gas stations nationwide, in cooperation with Oil Price Information Service and Wright Express.

Florida gas prices moved lower last week, but the rate of decline slowed to just fractions of a penny per day," said AAA spokesman Mark Jenkins. "After declining for a full month, the pump price plunge seems to be fizzling out, primarily due to rising demand and another week of declining crude inventories.”

OPEC and 11 other countries will meet in Vienna, Austria, on May 25 to discuss an agreement for cutting crude output in an attempt to balance the oil market and raise prices.

OPEC said it wants oil prices at or above $60 per barrel.

Despite higher prices in 2016, AAA forecasts more people will travel for Memorial Day weekend. About 37 million Americans are expected to travel 50 miles or more for the holiday weekend, a majority will travel by car.