Gas price dip continues into Labor Day

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Gas prices stayed below $ 2.35 a gallon mark during the Labor Day weekend, Wilmington-based AAA Mid-Atlantic reported. The price is the lowest seen since 2016.

In some areas, the price at the pump hovered around $2.25 a gallon in a number of areas, including Bear, Newark, and Elsmere. A station/convenience store in the Lewes-Rehoboth area briefly posted a price of $2.06 a gallon.

By Monday, the lowest price was $1.22 a gallon. The coastal area, which once had the highest gas prices in the state now has among the lowest, due in part to Royal Farms and Wawa duking it out for customers.

Lower crude oil prices and an increase in gasoline supply along the East Coast are helping drivers save money as they take their last summer road trip. This comes despite the phaseout of Philadelphia Energy Solutions, the largest refinery on the East Coast.

Gas prices, Mon, Sat., Fri.
Pennsylvania
$2.72
$2.72
$2.73
New Jersey
$2.60
$2.61
$2.61
Delaware
$2.32
$2.33
$2.33
Maryland
$2.45
$2.46
$2.46
Philadelphia (5-county)
$2.75
$2.76
$2.77
South Jersey
$2.49
$2.50
$2.50
Bloomsburg
$2.64
$2.66
$2.66
Wilkes-Barre
$2.68
$2.69
$2.69
National
$2.57
$2.58
$2.58

Labor Day – AAA Historical Gas Price Averages

8/29/19
9/3/18
9/4/17
9/5/16
9/7/15
9/1/14
Delaware
$2.35
$2.72
$2.69
$2.12
$2.32
$3.35
Pennsylvania
$2.73
$3.04
$2.86
$2.33
$2.47
$3.44
Philadelphia
5-county
$2.77
$3.03
$2.91
$2.31
$2.46
$3.46
New Jersey
$2.62
$2.78
$2.78
$1.99
$2.14
$3.25
South Jersey
$2.51
$2.79
$2.72
$1.95
$2.06
$3.20
National
$2.57
$2.83
$2.64
$2.19
$2.39
$3.43

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $55.10 per barrel, 93 cents higher than last Friday’s close.

Throughout the week, crude prices drifted between $53 and $57, rising on Thursday as China de-escalated trade tensions with the U.S., confirming preparation talks for renewed trade negotiations.

A decrease in U.S. crude inventories, coupled with continued tensions between the U.S. and Iran supported prices during the week but were kept in check by speculation over a potential recession.

“Drivers taking one last summer road trip for the Labor Day holiday are seeing gas prices lower than they were for both the Memorial Day and Independence Day holidays,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Many local drivers should see prices at the pump at least 25 cents lower than they were just one year ago.”

As Hurricane Dorian takes aim at the Southeast coast in coming days, it is unlikely to impact Gulf Coast refining infrastructure like Hurricane Harvey did in 2017.

Gas supplies are likely to tighten in Florida. Depending on the weather prior to the storm’s arrival, fuel deliveries could be reduced, limiting fuel supply at terminals and at Florida stations.

Gas prices could see spikes locally and regionally as motorists flock to stations to top-off vehicles, potentially causing panic buying. The severity of the storm will determine access to fuel supply and impact on gas prices in Florida.

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

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