The average Delaware gas price fell a penny to $2.99 a gallon, Wilmington-based AAA Mid-Atlantic reported.
The average gas price was four cents lower than Maryland, even though The First State’s gas tax is 14 cents a gallon lower than its neighbor.
“Peak summer driving season is in full swing as Americans hit the road for a Great American Road Trip and gas prices are not backing down,” Jana L. Tidwell, manager of public and government affairs for AAA Mid-Atlantic, reported last week.
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Last week, the federal Energy Information Administration reported that gas demand decreased from an all-time high last week in its latest weekly report.
The decrease, alongside an increase in total domestic gasoline stocks, helped to slow pump price increases. However, with oil prices above $70 per barrel, pump prices will likely remain high throughout the busy summer driving season.
Three dollars a gallon (regular) gas was widespread in Delaware, with Wawa and Royal Farms charging that figure at their convenience store locations.
In NYMEX trading on Wednesday, West Texas Intermediate crude oil closed above $70 a barrel after a sharp drop on Monday, a tough day on Wall Street. The market has since staged a rally.
To date, producers remain cautious about increasing output due to factors ranging from past booms leading to busts to concerns about the Biden Administration’s stance on climate change and a moratorium on drilling on public lands. Still, the closely watched drilling rig counts have increased.
To check out gas prices in your neighborhood, log on to AAA’s Fuel Price Finder.