Delaware saw a pause in the pattern of rising gas prices last week.
At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $69.76 per barrel, up $1.66 from the previous week.
Crude oil exports were at 2.148 million barrels per day last week. This is a drop from the previous week’s high of 2.331 million barrels per day, which was the highest weekly estimate on record from the Energy Information Administration.
CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline (*indicates record high)
|
|
This week
|
Last week/Year ago in column to right
|
|
|
National
|
$2.81
|
$2.81
|
$2.35
|
|
Pennsylvania
|
$3.02
|
$3.02
|
$2.62
|
|
Philadelphia
(5-county)
|
$3.02
|
$3.02
|
$2.62
|
|
Wilkes-Barre
|
$3.02
|
$3.02
|
$2.61
|
|
Bloomsburg
|
$3.00
|
$3.02
|
$2.65
|
|
South Jersey
|
$2.83
|
$2.84
|
$2.31
|
|
Delaware
|
$2.76
|
$2.76
|
$2.28
|
|
Crude Oil
|
$69.76
per barrel (05/04/18)
|
$68.10
per barrel
(4/27/18 close)
|
$45.52
per barrel
(5/4/17 close)
|
The EIA also reported that consumer gasoline demand is at 9.090 million barrels a day.
During the past two weeks, demand levels have been more in line with the usual spring driving season than the nearly 9.9 million barrel a day estimate reported in the middle of April – a record-breaking figure that more closely resembles demand rates seen during the high-demand summer driving season.
“We expect prices to continue increasing, potentially another 5 to 10 cents, through Memorial Day,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Even with gasoline demand remaining flat during the past two weeks, the national gas average increased five cents in the past two weeks with other factors driving prices, including the switchover to summer blend, geopolitical events, global supply and U.S. production. While at least nine states have hit the $3/gallon mark, AAA does not expect the national average to reach $3/gallon this year.”
Consumers could face the most expensive driving season in four years or since 2014, according to AAA. Consumers in nine states are already grappling with pump prices that have hit the $3/gallon mark.
Of the nine states over $3 a gallon, only Pennsylvania is located on the East Coast, but the District of Columbia, New Jersey, Connecticut and New York are close behind.
Refineries are now federally-mandated to produce the more expensive summer-blend gasoline. On June 1, retailers must make the switch to selling the summer-blend gasoline.
To check out the prices in your neighborhood, log on to AAA’s
Fuel Price Finder (AAA.com/fuelfinder).
