$3 a gallon gas greets motorists as July 4th weekend approaches

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Delaware gas prices have risen by four cents over the past week, with $3 ($2.99.9) a gallon gas commonplace.

Price leaders Royal Farms raised prices at many of their convenience stores to $2.99.9.

According to AAA Mid-Atlantic and Gas Buddy, membership clubs continued to have the lowest prices in the state. For example, the Costco store near Christiana Mall is charging $2.82 a gallon with a $2.84 price at the pump at BJ’s in Elsmere. Membership clubs typically charge an annual fee of $55 to $60.

Monday gas price for regular from AAA Mid-Atlantic

  • Delaware gas average, $2.98, unchanged overnight, up four cents in the last week.
  • Maryland gas average, $3, unchanged overnight and up three cents in the last week.
  • Nationalgas average, $3.09, unchanged overnightand up two cents in the last week.

In its latest weekly report, data from the Energy Information Administration (EIA) noted that gasoline demand increased while total domestic gas stocks decreased.

Prices rose by several cents in the Bear-Glasgow area as a price war in neighboring Maryland abated.

Drivers are likely to see small fluctuations in prices through the weekend. Still, increasing crude prices and strong demand could push prices higher ahead of the July 4 weekend, AAA Mid-Atlantic reported.

In early NYMEX trading on Monday, crude oil stood at 74.01, down a few cents from Friday’s close.

Crude prices continue to rise due to optimism that the vaccine rollout will spur driving.

Daily crude prices have not been this high since October 2018. Additionally, EIA’s latest report bolstered crude prices, revealing that total domestic crude supplies decreased last week.

AAA projects travel volume will reach near pre-pandemic levels, with more than 91% of holiday travelers going by car (43.6 million), the highest car volume on record for the holiday and 5% more than the previous record set in 2019. As a result, independence Day travelers can expect gas prices to be the highest since 2014, with the national average likely to remain above $3 per gallon.

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

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