Wilmington-based AAA. Mid-Atlantic reported Monday the price in the First State rose a dime over the past week.
The price at the pump in Delaware did remain below the national average.
Listings from AAA’s Fuel Price Finder indicated that convenience store chains Wawa and Royal Farms instituted the price increase, with independents and warehouse clubs like BJ’s and Costo not following along.
By last Friday, some Wawas and Royal Farms had trimmed a few cents off their per-gallon price.
In its latest weekly report, the Energy Information Administration (EIA) reported that gas demand increased slightly last week while total domestic gas stocks declined.
These trends have helped to stabilize price increases in some areas of the country. Still, crude oil prices continue to remain above $70 per barrel. As crude prices remain high, AAA expects the national average to remain above $3 per gallon throughout the summer.
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In early NYMEX trading on Monday, crude oil was trading at around $73 a barrel.
A weaker dollar helped to push prices up Thursday while market concerns surrounding demand continue to grow. Crude prices were also bolstered after EIA’s latest report showed that total domestic crude stocks declined last week.
“Although the national gasoline average has seen little movement in the last week, Delaware Valley drivers are feeling the pain at the pump, especially in Delaware,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “For pump prices to push less expensive, OPEC will need to follow through with production increases, crude will need to sell consistently at lower prices, and the market will need to adjust to the potential resurgence of Covid cases.”
To check out gas prices in your neighborhood, log on to AAA’s Fuel Price Finder.
Click on the headline below for an Our View opinion piece on gas prices.