Gas Prices Drop 3.2 Cents In Chattanooga

16 February 2018, 02:40 | Andres Norman

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Gas prices on the rise

Experts say crude oil prices are declining, so the price at the pump may follow in coming weeks.

A gallon of gasoline now costs 34 cents more a gallon than what cost a year ago.

The average price in Broward County was $2.67 on Monday - 3 cents more than a week earlier.

Gasoline website gasbuddy.com reports prices around the metro dropped almost 17 cents a gallon in the past week.

The price of a barrel of crude oil dropped $6 on the New York Mercantile Exchange last week, retreating from $65.45 on February 2 to close at $59.20 on Friday.

DeHaan said the drop in gas prices will likely continue this week but may be only "a brief window of relief" before fuel prices head up again.

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Michigan's current daily statewide average is about $2.57 per gallon, about ten cents less than last week's average and about 25 cents more than this same time a year ago. "Expect volatility at the pump as these forces collide".

Drivers in the West Palm Beach-Boca Raton market paid the state's highest average price, at $2.74.

In addition, higher domestic oil production helped push crude oil prices lower, analysts said. Today's price is 3 cent less than last week, 6 cents more than a month ago and 30 cents more than a year ago. According to the Energy Information Administration's latest weekly petroleum status report, demand registered at 9.11 million barrels per day.

Gas prices are less expensive on the week across the Great Lakes and Central region, except North Dakota where prices remained stable.

In Miami-Dade County, four Miami Beach gas stations were selling their product for more than $3 a gallon.



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