Gas prices rose three cents a gallon in Delaware.
AAA Mid-Atlantic, Wilmington, reported that drivers in the region have seen prices increase by up to 14 cents since last month.
The Energy Information Administration (EIA) reports that despite gasoline demand increasing, gasoline inventories also increased.
Demand is expected to decrease in the coming weeks, and gas prices should follow, but drivers should not get used to that trend as maintenance season kicks in for refineries and gas stations switch to a summer blend of gasoline.
| 1/14/2017 | Week Ago | Year Ago | |
| National | $2.53 | $2.49 | $2.34 |
| Pennsylvania | $2.79 | $2.76 | $2.64 |
| Philadelphia (5-county) | $2.79 | $2.77 | $2.64 |
| Wilkes-Barre | $2.78 | $2.74 | $2.64 |
| Bloomsburg | $2.78 | $2.76 | $2.65 |
| South Jersey | $2.53 | $2.52 | $2.39 |
| Delaware | $2.47 | $2.44 | $2.35 |
| Crude Oil |
$64.30 per barrel
(Fri. 1/12/18 close) |
$61.44 per barrel
(Fri. 1/5/18 close) |
$56.38 per barrel |
At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $64.30 per barrel, $2.86 higher than the previous week and closing above $61 each day this week.
U.S. government data revealed an eighth-straight weekly decline in U.S. crude stockpiles, and a noted decrease in domestic crude production.
The market is showing greater optimism about the potential of prices continuing to climb in 2018, as OPEC’s agreement to reduce production will remain in effect through the end of this year, AAA reported.
“The demand for gasoline is expected to wane in the coming weeks, as motorists hunker down for winter. This will likely result in a slight dip in prices later this month,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “However, any price drop will be short-lived with refinery maintenance season just around the corner.”
To check out prices in your neighborhood, log on to AAA’s Fuel Price Finder (http://www.AAA.com/fuelfinder).
A check of fuel prices from AAA showed prices were as low as $2.36 a gallon in the Elsmere, New Castle and Dover areas.
