Delaware gas prices dropped by two cents during the previous week, Wilmington-based AAA Mid-Atlantic reported.
Warehouse stores in New Castle County (BJ’s and Costco) offered gas at $2 a gallon, with a few independent stations in matching that price in Kent and New Castle.
During the past week, the gas price gap between Delaware and South Jersey was sharply reduced to three cents. South Jersey gas prices had been 10 cents lower, despite a gas tax in the Garden State that is 18 cents higher than in Delaware.
- Pennsylvaniagas average at $2.50 today, unchanged overnight and down a penny in the last week.
- New Jersey gas average at$2.21 today, uncchanged overnight and down two cents in the last week.
- Delawaregas average at $2.24 today, unchanged overnight and down 3 cents in the last week.
- Maryland gas average at $2.26 today, unchanged overnight and down a penny in the last week.
- Philadelphia (5-county) areagas average at $2.47 today, unchanged overnight and down a penny in the last week.
- S. Jerseygas average at $2.18 today, down a penny overnight and down 2 cents in the last week.
At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $37.33 per barrel, $2.44 lower than last Friday’s close. Domestic crude prices decreased after EIA’s weekly report revealed that total domestic crude inventories increased, signaling that crude demand is starting to decline.
Crude prices may continue to drop if production does not rebalance to meet lower demand ahead of fall, which typically sees fewer drivers hitting the roads for trips due to colder weather.
“Summer may be fading into the rearview mirror, but less expensive gas prices are not,” says Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Moving into fall we traditionally see a drop in demand and further savings at the pump. This year that means pump prices could possibly push even lower then we’ve already seen in 2020.”
Motorists saw savings at the pump from Memorial Day through Labor Day. The national gas price average during the unofficial start and stop to summer was $2.15 – the cheapest since 2004. Demand was decimated this summer, which ultimately meant increased supply and cheap gas prices. That trend continues. Conditions in the tropics could change that, however, as the very active hurricane season continues.
To check out prices in your neighborhood, log on to AAA’s Fuel Price Finder(http://www.AAA.com/fuelfinder).