Delaware gas prices continued their steady climb, with six-cent jump during the past week, Wilmington-based AAA Mid-Atlantic reported.
Since February 1, gas prices across the Delaware Valley have increased by at least 19 cents.
Gas prices locally and nationally have increased due to longer-than-expected refinery outages as a result of last week’s winter storm that hit the Gulf Coast.
Today’s national gas price average is $2.69, up nine cents in the last week, up 29 cents in the last month, and up 22 cents from this time last year.
Sam’s Club in Dover appeared to have the lowest price at the pump in the state at $2.43 a gallon.
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At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $61.50 per barrel, $2.26 higher than last Friday’s close.
At the close of Thursday’s formal trading session, WTI settled at $63.52 — the highest settlement price since May 2019. Crude prices have increased this week due to growing market optimism that as vaccines become more available, crude demand will recover.
Prices continue to increase despite the Energy Information Administration’s new weekly report revealing that total domestic crude inventories increased by 1.3 million barrels last week.
“Tri-state area gas prices have increased by at least five cents this week,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Until Gulf Coast refineries restart and resume normal operations, most drivers should expect pump prices to continue increasing through the weekend.”
AAA offers a fuel price finder, which lists the lowest fuel price in your neighborhood.