Gas prices move up as demand remains strong and supplies tighten

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Delaware is seeing higher gas prices, due to higher than expected gasoline demand, coupled with tightening gasoline supplies, Wilmington-based AAA Mid-Atlantic reported.

Prices were as follows:

  • Pennsylvaniagas average at $2.77 today, unchanged overnight and up 3 cents in the last week.
  • New Jersey gas average at$2.58 today, unchanged overnight and up 2 cents in the last week.
  • Delawaregas average at $2.39 today, up 2 cents overnight and up 4 cents in the last week.
  • Maryland gas average at $2.47 today, unchanged overnight and up a penny in the last week.
  • Philadelphia (5-county) areagas average at $2.76 today, unchanged overnight and up 5 cents in the last week.
  • S. Jerseygas average at $2.53 today, up a penny overnight and up 5 cents in the last week.
  • National gas average at $2.60 today, unchanged overnight and unchanged in the last week.

At the close of NYMEX trading Monday West Texas Intermediate (WTI) crude oil settled at around $56.60 per barrel, up about 40 cents from Friday.

Prices have hovered between $54 and $56 throughout the week. Unimpressive factory data out of China and a report that Chinese officials have doubts about the prospects of a long-term trade deal with the U.S. also prevented crude from climbing.

Refinery maintenance across the country continues, though utilization rates have increased in the last week. This could mean further declines to the national average in the weeks ahead if demand drops.

Refinery utilization in the Northeast pushed up a percentage point last week.

To check out prices in your neighborhood, log on tohttp://www.AAA.com/fuelfinder).

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