The Delaware gas price rose a few cents during the past week.
Wilmington-based AAA Mid-Atlantic reported that the average price at the pump in the First State stood at $2.29. The price at the pump fell to as low as $2.15 a gallon in the Elsmere area. Motorists were still finding $2.25 gas in many areas, including Rehoboth, which has seen Royal Farms and Wawa continue their expansion.
While gas prices are more expensive than a year ago, the past five weeks of sustained weekly declines indicate that demand may be leveling out as refineries and pipelines returning to pre-hurricane operations.
| 10/22/2017 | Week Ago | Year Ago | |
| National | $2.46 | $2.47 | $2.23 |
| Pennsylvania | $2.65 | $2.67 | $2.40 |
| Philadelphia (5-county) | $2.61 | $2.64 | $2.36 |
| South Jersey | $2.32 | $2.33 | $1.99 |
| Wilkes-Barre | $2.67 | $2.69 | $2.39 |
| Delaware | $2.29 | $2.25 | $2.13 |
| Crude Oil |
$51.84 per barrel
(Fri. 10/20/17 close) |
$51.45 per barrel
(Fri. 10/13/17 close) |
$54.48 per barrel |
At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $51.84 per barrel, 39 cents higher than the previous week’s closing price.
Two factors contributing to slightly higher crude oil prices are – an explosion at an oil rig in Lake Ponchartrain (northwest of New Orleans) and Iraqi troops engaging with Kurdish rebels in northern Iraq, near the nation’s oil fields.
“Gas prices in the Mid-Atlantic region are poised to reach pre-Hurricane Harvey levels in the coming weeks, following a five week decline,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Drivers will see stabilized or decreasing prices at the pump throughout this month due to high refinery production rates and low seasonal demand.”
The International Energy Agency’s October Oil Market Report forecast that three of the four quarters in 2018 will see the oil market in balance, assuming unchanged OPEC production and normal weather conditions.
To find out Delaware gas prices, check out the AAA’s Fuel Price Finder (http://www.AAA.com/fuelfinder)
