Gas prices fluctuated last week across s the Mid-Atlantic due to repairs to the Colonial Pipeline in Alabama and localized supply disruptions in the Southeastern U.S., Wilmington-based AAA Mid-Atlantic reported.
Two dollars a gallon gas could return later in the year.
Prices were unchanged from a week ago in Delaware, although motorists saw up and down movements during the week. As of Sunday, the gas price was as low as $2.03 a gallon in the Wilmington area, with $2.15 a gallon gas offered in many areas, according to AAA and the GasBuddy.com website.
Repairs to the leaking pipeline were completed and the pipeline reopened Wednesday night. The break did not affect supplies in much of Delaware, which is served by gasoline from area refineries. However, the disruption cut supplies in many areas and had the effect of raising gas prices across the board.
The company has estimated that 252,000 to 336,000 gallons of gasoline leaked from the line and it will take several days for fuel supplies to return to normal in markets served by the pipeline.
CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline (*indicates record high)
| 9/25/2016 | Week Ago | Year Ago | |
| National | $2.21 | $2.20 | $2.29 |
| Pennsylvania | $2.35 | $2.33 | $2.37 |
| Philadelphia (5-county) | $2.34 | $2.30 | $2.34 |
| South Jersey | $1.95 | $1.93 | $1.93 |
| Wilkes-Barre | $2.34 | $2.33 | $2.35 |
| Delaware | $2.19 | $2.15 | $2.19 |
| Crude Oil |
$44.48 per barrel |
$43.03 per barrel |
$51.20 per barrel |
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate (WTI) closed up $1.03 from last week to settle at $44.48 per barrel.
Wednesday’s Energy Information Administration (EIA) report on the status of petroleum inventories in the United States shows that crude oil inventories decreased by 6.2 million barrels to a total of 504.6 million barrels, yet remain 50.6 million barrels above last year (11.2 percent ) and are well above the upper limit of the average range for this time of year.
“Many parts of the Mid-Atlantic region continue to feel the effects of the Colonial Pipeline leak, as gas prices in some areas have jumped double-digits per gallon in the past week alone,” said Jana L. Tidwell, manager of public and government Affairs for AAA Mid-Atlantic. “As the pipeline’s gasoline flow returns to normal capacity, pump prices in the region should drop.”
Traders will continue to keep an eye on the Colonial Pipeline repairs and the OPEC member meeting later this month.
Pump prices are expected to trend lower in the following weeks and months as gas stations have transitioned to winter-blend gasoline and the demand for gasoline drops. AAA predicts that consumers could experience national average prices below $2.00 at the pump if the price of crude oil remains relatively low and refineries are able to conduct planned seasonal maintenance with few issues.
To find out gas prices in your aera, log on to AAA’s Fuel Price Finder at (http://www.AAA.com/fuelfinder).
