Gas prices in the Mid-Atlantic region are still dropping.
Across the country, some states have seen prices start to creep higher in the last week, falling in line with AAA’s forecast of a price spike this spring.
Local drivers may have to wait another week or so to find out if the increase has taken hold. For the week, prices were down a couple of pennies.
AAA-Mid Atlantic is based in Wilmington.
| 3/4/2017 | Week Ago | Year Ago | |
| National | $2.53 | $2.52 | $2.31 |
| Pennsylvania | $2.79 | $2.81 | $2.51 |
| Philadelphia (5-county) | $2.75 | $2.79 | $2.48 |
| Wilkes-Barre | $2.81 | $2.82 | $2.52 |
| Bloomsburg | $2.84 | $2.85 | $2.54 |
| South Jersey | $2.50 | $2.54 | $2.23 |
| Delaware | $2.43 | $2.45 | $2.22 |
| Crude Oil |
$61.25 per barrel
(Fri. 3/2/18 close) |
$63.55 per barrel
(Fri. 2/23/18 close) |
$54.70 per barrel |
At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled down from the previous week.
Meanwhile, U.S. crude production continues to soar. The Energy Information Administration (EIA) reports that crude oil inventories increased by 3 million barrels.
Some analysts believe that U.S. oil production alone could cause the global market to shift from roughly balanced to a surplus.
“Gas prices continue to trend cheaper for the majority of motorists as demand for consumer gasoline declines,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “While cheaper gas prices are welcomed by motorists, AAA does not expect the trend to continue, as refinery maintenance wraps-up and the summer-blend gasoline hits the pumps. Consumers can expect prices to likely increase throughout April, May and into the start of summer.”
AAA does not expect the national gas price to be reminiscent of 2011-2014, when motorists were paying on average $3.47 per gallon. However, prices at the pump are expected to jump at least 20-30 cents a gallon this spring.
A new AAA survey found the vast majority of consumers would change their driving habits or lifestyle to offset higher gas prices. One in four say they would start making changes at $2.75, while 40 percent say $3 is their tipping point.
Changes consumers said they would make include combining errands or trips (79 percent), driving less (73 percent), reducing shopping or dining out (61 percent), delaying major purchases (50 percent) and driving more fuel-efficient vehicles (46 percent).
To check out local gas prices log on to AAA’s Fuel Price Finder (http://www.AAA.com/fuelfinder) locates the lowest fuel price in your area.
