Delaware remains state with lowest average gas prices

0

Delaware clung to its first-place ranking as the state with the lowest average gas price.

As of Monday, the First State was edging out South Carolina by less than a penny, figures from AAA Mid-Atlantic reported. Delaware’s gas price dropped another penny over the weekend.

Gas prices, Fri. (left) Sat. Sun.
Pennsylvania
$3.00
$3.00
$3.01
New Jersey
$2.82
$2.82
$2.83
Delaware
$2.52
$2.53
$2.53
Maryland
$2.69
$2.70
$2.70
Philadelphia (5-county)
$2.98
$2.99
$3.00
South Jersey
$2.71
$2.72
$2.72
Bloomsburg
$3.04
$3.05
$3.06
Wilkes-Barre
$3.02
$3.03
$3.04
National
$2.82
$2.83

The future outlook is uncertain, due to geopolitical concerns that could impact crude oil prices.

Today’s national gas price average is $2.84, which is down three cents in the last week, down three cents in the last month, and 38 cents higher than this time last year.

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $67.59 per barrel, down $1.53 from last Friday.

For the fifth consecutive week, domestic crude inventories grew and now sit at a level not seen since the beginning of the driving season in June, according to the Energy Information Administration (EIA).

Continued growth in domestic crude held in storage will likely cause prices to decline temporarily.

However, with pending U.S.-imposed sanctions on Iran’s crude exports set to go into effect on November 4, lower crude prices may be short-lived as global supply tightens.

“Motorists are enjoying another week of lower gas prices, pushed down by oil prices, which have declined significantly since the beginning of the month,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “This ‘treat’ at the pumps will continue if oil prices continue to drop but things could change ahead of the U.S. – imposed sanctions on Iran.”

To check out prices in your neighborhood, log on to AAA’s (http://www.AAA.com/fuelfinder), which locates the lowest fuel price in your area.

Facebook Comments