Current and Past Price Averages (regular unleaded gasoline)
The current average price for regular unleaded gasoline in Daytona Beach is $2.46
"Falling oil and wholesale gas prices should push pump prices lower this week," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "However, oil prices have been fickle this year, so motorists should expect continued volatility in the next couple of months as oil prices fluctuate, demand rises, and refineries complete the switchover to more expensive summer blends." Oil prices hit 3-week lows as crude oil prices declined $3 last week, settling at $49.62 on Friday - the lowest daily settlement since March 29. AAA reports that the decreases over last week's settlement came amid news that Russia said it would be willing to extend its cut to crude oil production that was agreed upon with OPEC last year. However, according to the American Petroleum Institute, demand continues to grow steadily, with total U.S. petroleum deliveries in March reaching their highest point for this time of the year since 2008. AAA's report states that OPEC, Russia and other producers agreed to cut production by 1.8 million barrels per day during the first half of the year. They will reconvene on May 25 to discuss the potential of extending the agreement through the 2nd half of 2017. Analysts are pessimistic the extension will carry based on concerns that OPEC would lose market share to the United States, whose shale oil sector has helped push domestic inventories to record levels. The following 'Fuel Fundamentals' provided by AAA are based on weekly data from the U.S. Energy Information Administration (EIA).