Gas prices remained stable over the weekend after Tropical Storm Florence brought flooding to portions of North Carolina.
There had been concerns that disruption to energy transportation and distribution infrastructure could be significant due to flooding and power outages. A shutdown of the Colonial or Plantation Pipeline, which supply the Mid-Atlantic and Northeast with fuel, would also result in an uptick in gas prices.
| Gas prices, Friday through Sunday |
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Pennsylvania
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$3.07
|
$3.07
|
$3.07
|
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New Jersey
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$2.89
|
$2.89
|
$2.89
|
|
Delaware
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$2.82
|
$2.83
|
$2.83
|
|
Maryland
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$2.84
|
$2.84
|
$2.84
|
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Philadelphia (5-county)
|
$3.07
|
$3.07
|
$3.08
|
|
South Jersey
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$2.82
|
$2.83
|
$2.83
|
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Bloomsburg
|
$3.09
|
$3.08
|
$3.08
|
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Wilkes-Barre
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$3.05
|
$3.05
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$3.05
|
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National
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$2.85
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$2.85
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$2.85
|
At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $68.99 per barrel, up $1.24 from last Friday.
Oil prices hit $70.37 Wednesday, a high not seen since mid-July, due to falling U.S. crude inventories and production levels but fell sharply the next day as an International Energy Agency (IEA) report showed global supplies hit a record of 100 million barrels a day, making up for the expected decline in Iranian supply due to U.S. economic sanctions.
The report warned that oil prices could rise as U.S. sanctions cut into Iranian oil exports and problems in Venezuela limit production in that country.
There are no refineries in Florence’s path; therefore, U.S. crude processing will not be impacted. To check out prices in your neighborhood, log on to (http://www.AAA.com/fuelfinder).
