Gas prices rose slightly in Delaware during the past week.
AAA Mid-Atlantic reported the price of self-serve regular rose to $2.44, up a couple of pennies from a week earlier and about a dime above a year ago. The average national gas price was $2.49.
The higher prices at the pump come as crude oil rose above $61 a barrel, amid signs that OPEC will be successful in cutting production. However, the higher prices have not fully made their way to the pump.
“Although prices at the pump shot up over the holidays, now that the holiday season in the rearview mirror, motorists can expect gas prices to trend cheaper this month as we are likely to see a significant drop in gasoline demand,” said Jeanette Casselano, AAA spokesperson.
At the same time, however, $61 a barrel oil also encourages more drilling in the U.S. Massive amounts of oil have been found in the Permian Basin in Texas and New Mexico with 400 rigs now operating in that area.
The Trump administration announced plans to allow coastal oil exploration, triggering an uproar along the East and West coasts, with Delaware Gov. John Carney coming out against the plan. Republican governors in neighboring states, Chris Christie of New Jersey and Larry Hogan of Maryland also came out against the proposal.
