Delaware gas prices drop to as low as $2.07 a gallon in Lewes-Rehoboth despite growing tensions in Middle East

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Delaware drivers experienced another week of pricedeclines at the pump, adding to an average gas price drop of 10 to 20-cents per gallon in the last month, Wilmington-based AAA Mid-Atlantic reported.

Crude oil prices remain low, despite the attack on oil tankers in the Middle East. AAA believes that barring a sustained attack, the impact on prices will be minimal.

AAA reported a Safeway station in the Lewes-Rehoboth area posted $2.07 a gallonprice for its shopping card members, an indication of an old fashioned gas war in the beach area, which has seen an influx of Royal Farms and Wawa stations.

In the past, gas prices at the beach tended to go up as tourism season got underway.

In the Newark area, the pump price fell as low as $2.35 a gallon.

Sunday
Saturday
Friday
Pennsylvania
$2.84
$2.85
$2.86
New Jersey
$2.78
$2.78
$2.79
Delaware
$2.50
$2.50
$2.51
Maryland
$2.60
$2.60
$2.61
Philadelphia (5-county)
$2.90
$2.90
$2.91
South Jersey
$2.65
$2.65
$2.66
Bloomsburg
$2.85
$2.86
$2.86
Wilkes-Barre
$2.84
$2.85
$2.85
National
$2.68
$2.69
$2.70

As of Monday, the Delawaregas average was $2.50, unchanged overnight and down four cents in the last week.

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $52.51 per barrel, $1.48 lower than last Friday’s close.

Following attacks on two tankers in the Gulf of Oman last week crude prices increased by $1.14, a relatively tepid response to the incident. Many analysts believe the market remains concerned about the threat of the ongoing trade war and a forecasted slowdown of global economic growth. Oil prices also remain lower following the Energy Information Administration’s (EIA) latest report showing crude oil inventories have increased.

“As the summer driving season rolls on, prices at the pump continue to slide, which is welcome news to motorists as seasonal road trips and weekend getaways gear up,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Increased gasoline supplies, coupled with lower crude prices, will help keep gas prices low as we move through summer.”

For the 2019 summer driving season, which runs from April through September, the feds forecast that the price for regular will average $2.76 per gallon, down from an average of $2.85 per gallon last summer. The lower forecast gasoline prices primarily reflect lower crude prices this summer.

To check out gas prices in your neighborhood, log on to(http://www.AAA.com/fuelfinder).

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