Gas prices remained steady this week in Delaware, a possible sign that the post-Thanksgiving decline may have largely run its course.
Wilmington-based AAA Mid-Atlantic reported crude oil prices have started to rebound following a decision by OPEC to cut production beginning January 2019. If oil prices increase, so will gas prices. AAA believes that heading into the last two weeks of December, many drivers could see one last slight decrease before prices potentially rise.
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Gas prices, Sun. (left), Sat. Fri.
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Pennsylvania
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$2.61
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$2.61
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$2.62
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New Jersey
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$2.45
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$2.45
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$2.46
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Delaware
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$2.17
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$2.17
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$2.17
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Maryland
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$2.31
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$2.31
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$2.31
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Philadelphia (5-county)
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$2.63
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$2.63
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$2.63
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South Jersey
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$2.33
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$2.33
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$2.33
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Bloomsburg
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$2.64
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$2.64
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$2.64
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Wilkes-Barre
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$2.63
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$2.63
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$2.64
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National
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$2.38
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$2.38
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$2.39
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At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $51.20 per barrel, $1.41 lower than last Friday.
Prices moved higher Thursday amid talk of a steep cut in Saudi oil exports to the U.S. in the coming weeks in an effort to shrink the buildup in U.S. crude oil inventories.
Crude prices also drew support from indications that the trade war between the U.S. and China may be easing.
Last week, OPEC announced that beginning in January 2019, the cartel and non-OPEC members, including Russia, will reduce combined crude oil production by 1.2 million barrels per day. The cut will be in place for six months.
“Local drivers continue to enjoy the lowest gas prices of the year as they fill up at the pump,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “However, with the recent announcement from OPEC to reduce crude oil production in 2019, cheaper gas prices may not last long into the new year.”
To check gas prices in your neighborhood, log on to AAA’s Fuel Price Finder .(http://www.AAA.com/fuelfinder).
