Prices around the region were up slightly over last week as crude oil prices continue to climb and refineries prepare for spring maintenance, Wilmington-based AAA Mid-Atlantic reported.
Delaware’s gas price was up a penny for the week.
Nationwide, some states saw increases of two or three cents overnight. Friday’s national gas price average was $2.30, up two cents in the last week, up six cents in the last month, and 24 cents less than this time last year.
CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline (*indicates record high)
|
2/15/19 |
Week Ago |
Year Ago |
|
| National |
$2.30 |
$2.28 |
$2.54 |
| Pennsylvania |
$2.52 |
$2.50 |
$2.84 |
| Philadelphia (5-county) |
$2.48 |
$2.49 |
$2.83 |
| South Jersey |
$2.25 |
$2.24 |
$2.60 |
| Delaware |
$2.14 |
$2.13 |
$2.47 |
| Crude Oil |
$55.59 |
$52.72 |
$56.57 |
At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $55.59 per barrel, $2.87 higher than last Friday.
Crude prices have increased since Tuesday amid signs that OPEC is holding to its pledge to curb crude production. Earlier this week, Saudi Arabia pledged to cut an additional 500,000 barrels a day, according to the Financial Times.
The potential for a positive outcome for trade talks between the U.S. and China, which could have a direct impact on energy demand, also helped push prices higher.
“The increases seen across the tri-state region are minimal at the moment,” says Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “As refineries begin their spring maintenance season in March and switch over to summer-blend gasoline, we should see prices trend higher.”
Following maintenance season, gas stations will switch over to summer-blend gasoline. Summer-blend gasoline prevents excessive evaporation when outside temperatures rise. Summer gas decreases emissions that can contribute to unhealthy ozone and smog levels.
You can check out local gas prices at AAA’s Fuel Price Finder (http://www.AAA.com/fuelfinder).
