Bitter Gulf Coast weather leads to spike in gas prices

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Delaware’s gas price increased by 10 cents during the past week as refinery issues hit the nation on the Gulf Coast.

The state’s gas prices are now about 20 cents higher than during the same period a year earlier, Wilmington-based AAA Mid-Atlantic reported.

The increase in both local and national average results from all major Gulf Coast refineries being impacted by the recent winter storm, which has caused gas supplies to tighten and pump prices to increase.

Until normal refinery operations resume, the impact will result in most drivers seeing gas prices increasing another five to 15 cents through the weekend.

Monday gas price average

Today’s Average 1 Week Ago 1 Month Ago 1 Year Ago
National $2.63 $2.50 $2.39 $2.47
Delaware $2.58 $2.48 $2.46 $2.36
Dover $2.58 $2.49 $2.47 $2.37
Milford/Seaford $2.58 $2.49 $2.48 $2.35
Wilmington/Newark $2.58 $2.47 $2.44 $2.37
Maryland $2.65 $2.50 $2.47 $2.42

In NYMEX trading on Monday, West Texas Intermediate (WTI) crude oil settled at more than $61 a barrel, up $1.84 from Friday.

The Energy Information Administration’s new weekly report revealed that total domestic crude inventories dropped by last week. As crude inventories decline, crude prices are likely to continue increasing and push retail prices higher.

“Pennsylvania, New Jersey, and Delaware are all seeing a significant increase in gas prices this week, all topping 2020 highs,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Winter weather troubles along the Gulf Coast will have an effect on gas prices in the Northeast until refineries can resume normal operations and road conditions lend themselves to regular fuel deliveries.”

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

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