Average gas price drops slightly to $2.40 a gallon

San Bernardino, CA, June 12- Average retail gasoline prices in San Bernardino have fallen 2.6 cents per gallon in the past week, averaging $2.96/g yesterday, according to GasBuddy's daily survey of 567 gas outlets in San Bernardino.

In Jacksonville, the average fell 3 cents to $2.31. A year ago at this time, the average price in Rhode Island was two cents lower at $2.31.

Gas prices across Florida and the nation are dropping fast amid a ideal storm of falling crude oil prices, rising production and lower consumer demand, AAA said in its weekly gas price update. "Oil prices plunged to lows that should translate to a total discount of 5-10 cents at the pump, but motorists should not expect that discount to hit overnight".

Gas prices in the Bradenton-Sarasota-Venice market are flat with where they were a year ago, promising to push below the 2016 levels this week, AAA data shows.

The average cost in Columbia is $1.99 per gallon while people in Myrtle Beach are paying about $2.01 a gallon, according to AAA.

Last month, OPEC extended production cuts in hopes of balancing the oil market. Nationally, gas was $2.34, also down four cents. The lowest was $2.26 on February 9. Some discounters in the 'Boro started the week at $2.02 per gallon.

Average gasoline prices fell in South Florida as well, but not by as much as the overall state and nation.

Prices typically rise in May as refineries change their production from heavier winter gasoline to a light summer blend that burns more efficiently in higher temperatures. Motorists spent more than $53 to fill an average 15-gallon tank.

"Oil prices remain near 6-month lows, and today's average price for gasoline is the lowest for mid-June since 2005".

Weekly sports headlines from Jackson Progress Argus.

  • Joanne Flowers