The price at the pump in Delaware fell by a penny on Tuesday as an uptick in gas prices appeared to at least temporarily lose steam, Wilmington-based AAA Mid-Atlantic reported.
Gas prices have been rising on optimism about a coronavirus vaccine and another economic stimulus package. However, outbreaks and new and faster-spreading strains of the virus have dampened expectations.
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So far this year, Delaware gas prices have been high when the state’s low gas tax is taken into consideration. For example, Maryland’s average price at the pump is only a penny higher than the Delaware figure, even though its gas tax is 13 cents higher.
The lowest gas prices in Delaware posted at the Costco store south of Newark and the Sam’s Club in Dover at $2.20 a gallon.
Crude oil has been on the rise, with a Tuesday open of $53 a barrel, slightly above the $52.27 a barrel on Friday.
Crude prices have been affected by expectations of a larger stimulus plan from the Biden administration and concerns about the number of new coronavirus cases, especially in China. The International Energy Agency earlier this week added to the concerns, lowering earlier estimates of demand.
“Rising crude oil prices have led to an increase at the pump for drivers around the Delaware Valley in the past few weeks,” Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic said on Friday.“Although the price increase seems to be slowing, continued higher crude oil prices could sustain gas prices rather than seeing them drop as they typically do during winter months.”
To check out prices in your neighborhood, log on to AAA’sFuel Price Finder(http://www.AAA.com/fuelfinder).