Gas prices barely budged in Delaware as a troubled pipeline went back into operation.
Colonial Pipeline’s Line 1 operations were restored last Sunday after more than a week of downtime following an explosion October 31.
The price at the pump fell by a penny in Delaware from a week earlier. The price at the pump is down a nickel from a year ago in Delaware.
CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline (*indicates record high)
| 11/13/2016 | Week Ago | Year Ago | |
| National | $2.17 | $2.22 | $2.19 |
| Pennsylvania | $2.40 | $2.41 | $2.35 |
| Philadelphia (5-county) | $2.37 | $2.38 | $2.35 |
| South Jersey | $2.20 | $2.24 | $1.95 |
| Wilkes-Barre | $2.44 | $2.46 | $2.35 |
| Delaware | $2.12 | $2.13 | $2.17 |
| Crude Oil |
$43.41 per barrel |
$44.07 per barrel |
$48.23 per barrel |
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate (WTI) closed down 66 cents from last week to settle at $43.41 per barrel.
The Energy Information Administration reported crude oil inventories increased by 2.4 million barrels to 485 million barrels, 30.2 million barrels above last year.
Continued negotiations among OPEC and non-OPEC members are also weighing on the oil market. The Secretary-General of OPEC announced earlier this week that the group was still committed to developing an output deal to cut oil production, but no formal agreement has been reached.
“Thankfully, drivers in the Mid-Atlantic region saw very little movement in gas prices this past week,” said Jana L. Tidwell, manager of Public and Government Affairs for Wilmington-based AAA Mid-Atlantic. “We should see prices start to decline to lead into the Thanksgiving holiday due to dropping oil prices and demand, typical factors during the fall and winter.”
Though gas prices increased slightly, signs point to a leveling out and even retreat in most areas ahead of the busy Thanksgiving travel period.
Click on (http://www.AAA.com/fuelfinder) to find gas prices in your neighborhood.
