Gas prices in the Delaware Valley spent the past week in park, seeing little movement at the pump, Wilmington-based AAA Mid-Atlantic reported.
Delaware continues to see substantially higher gas prices than South Jersey, even though the Garden’s State’s gas tax is 18 cents higher than in Delaware.
Monday gas prices
- Pennsylvania gas average at $2.43 today, unchanged overnight and up 2 cents in the last week.
- New Jersey gas average at $2.17 today, unchanged overnight and down a penny in the last week.
- Delaware gas average at $2.23 today, unchanged overnight and down a penny in the last week.
- Maryland gas average at $2.26 today, unchanged overnight and down 2 cents in the last week.
- Philadelphia (5-county) area gas average at $2.40 today, unchanged overnight and in the last week.
- S. Jersey gas average at $2.13 today, unchanged overnight and down 2 cents in the last week.
- Wilkes-Barre area gas average at $2.39 today, down a penny overnight and up a penny in the last week.
- National gas average at $2.17 today, unchanged overnight and down a penny in the last week.
At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil closed at $41.22 per barrel, 95-cents higher than last Friday’s close.
Oil futures posted the highest close since March on Wednesday ($42.19). Prices fluctuated the rest of the week following the news that gasoline inventories showed an unexpected rise which points toward a decrease in gasoline demand.
“This summer is no doubt the cheapest at the pump for motorists in more than a decade. The last two months have yielded a national average of $2.14,” says Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “While we expect to see typical fluctuation, August gas prices are not expected to spike, especially amid increases in COVID-19 cases.”
In the new weekly report from the Energy Information Administration (EIA), gas demand fell from 8.8 million barrels to 8.6 million barrels a day. Decreasing demand for gasoline helped pump prices to stabilize, and if demand continues to drop, pump prices could move down in the coming week.
To check out prices in your neighborhood, log on to AAA’s Fuel Price Finder (http://www.AAA.com/fuelfinder) locates the lowest fuel price in your area.
