Gas prices around the Mid-Atlantic region have remained stable over the past week.
Wilmington-based AAA Mid-Atlantic also reported the state will see a higher price at the pump as summer blends make their way to convenience stores.
Oil prices have changed very little in the past week. The refinery maintenance season has been relatively smooth and East Coast gasoline inventories grew by more than one million barrels, reducing pressure on wholesale prices.
The price at the pump in Delaware was down a penny from a week ago. That was of scant comfort to motorists who still see South Jersey prices only a few cents below Delaware. This comes despite a fuel tax in New Jersey that is 14 cents a gallon higher than in Delaware.
Prices in Delaware varied widely, with one station in Elsmere charging $2.45 a gallon.
| 4/8/2018 | Week Ago | Year Ago | |
| National | $2.66 | $2.66 | $2.39 |
| Pennsylvania | $2.87 | $2.86 | $2.59 |
| Philadelphia (5-county) | $2.85 | $2.84 | $2.60 |
| Wilkes-Barre | $2.88 | $2.88 | $2.59 |
| Bloomsburg | $2.88 | $2.88 | $2.59 |
| South Jersey | $2.65 | $2.62 | $2.33 |
| Delaware | $2.60 | $2.61 | $2.28 |
| Crude Oil |
$62.06 per barrel
(Fri. 4/6/18 close) |
$64.94 per barrel
(Thurs. 3/29 close) |
$53.43 per barrel |
At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $62.06 per barrel, down $2.88 from the previous week.
The Energy Information Administration (EIA) reported that crude oil inventories decreased by 4.6 million barrels last week, the biggest weekly decline since January, beating analysts’ forecasts. Throughout the week, fears of an escalating trade war with China affected prices. By late in the week, those pressures had eased.
“Despite the stall at the pump, gas prices should trend higher the closer we get to May,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “As retailers begin to sell summer-blend gasoline, the increase in price to produce it will be passed on to consumers.”
AAA anticipates gas price averages are likely to continue their upward trend leading into the summer driving season as the switchover to more expensive summer blend gasoline begins (switchover day is May 1).
AAA’s Fuel Price Finder posts prices in your neighborhood at (http://www.AAA.com/fuelfinder).
