Delaware’s average gas rose by four cents amid signs that the steady drop in gas prices is nearing an end.
On Thursday, the national gas average rose for the first time in nearly 100 days.
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Gas price, Sun, left; Sat., Fri.
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Pennsylvania
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$2.48
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$2.48
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$2.48
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New Jersey
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$2.34
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$2.34
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$2.33
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Delaware
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$2.12
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$2.11
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$2.10
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Maryland
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$2.22
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$2.21
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$2.21
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Philadelphia (5-county)
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$2.51
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$2.51
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$2.51
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South Jersey
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$2.24
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$2.24
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$2.22
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Bloomsburg
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$2.51
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$2.51
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$2.51
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Wilkes-Barre
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$2.51
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$2.51
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$2.52
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National
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$2.25
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$2.25
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$2.24
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At the close of NYMEX trading on Friday, West Texas Intermediate (WTI) crude oil settled at $51.59 per barrel, $3.63 higher than last Friday.
Although Friday’s closing price is lower than Thursday’s (by $1), it reflects a trend of increases and is the second day in a row that oil has closed above $50.
Oil prices have risen on expectations for progress toward a resolution on trade between the U.S. and China as well as data showing declines in output among major oil producers as part of the latest OPEC agreement.
Oil price increases may be temporary as concerns about the global economy linger. There are also signs that China’s growth in 2018 and 2019 would be the lowest in almost 20 years.
“Locally, drivers continue to enjoy savings at the pump as demand for retail gasoline in the U.S. reaches an almost two-year low and the global crude market is oversupplied,” says Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “As OPEC’s oil production cuts continue, the effect on prices at the pump should become more apparent.”
However, crude oil supplies continue to be high and U.S. supplies of gasoline have risen, which could keep gas prices low for the next few weeks.
To check out gas prices in your area, check out AAA’s Fuel Price Finder (http://www.AAA.com/fuelfinder).
