$2 a gallon gas possible if pandemic intensifies worldwide

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Delawaredrivers saw gas prices drop in the past week, with $2 a gallon possible during the winter, Wilmington-based AAA MId-Atlantic reported.

The following prices were reported by AAA:

  • Pennsylvaniagas average at $2.43 today, unchanged overnight and down 2 cents in the last week.
  • New Jersey gas average at$2.17 today, unchanged overnight and down 3 cents in the last week.
  • Delawaregas average at $2.17 today, down a penny overnight and down 7 cents in the last week.
  • Maryland gas average at $2.21 today, down a penny overnight and down 4 cents in the last week.
  • Philadelphia (5-county) areagas average at $2.12 today, down a penny overnight and down 4 cents in the last week.
  • S. Jerseygas average at $2.12 today, down a penny overnight and down 4 cents in the last week.
  • National gas average at $2.11 today, unchanged overnight and down a penny in the last week.

The cheapest price at the pump was $1.91 at Sam’s Club in Dover.

In trading on Friday, West Texas Intermediate (WTI) crude oil was close to $38 per barrel, thanks to encouraging news about a Covid-19 vaccine.

Domestic crude prices bounced around during the week due to market concern about increasing coronavirus infections worldwide, which could lower crude demand as countries impose new restrictions that will likely limit oil consumption.

The drop in crude prices occurred despite the Energy Information Administration’s new weekly report showing that total domestic crude inventories dropped last week. As demand concerns continue to weigh on the market, crude prices will likely continue to decline.

“The national gas price average has not been this low to start November since 2004,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “If crude oil continues to push cheaper, we could see the national average drop below $2 a gallon before the end of the year.”

To check out fuel prices in your neighborhood, check out AAA’s Fuel Price Finder(http://www.AAA.com/fuelfinder).

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