Delaware’s average gas price dropped by two cents, Wilmington-based AAA Mid-Atlantic reported.
In its latest weekly report, the Energy Information Administration reported that gas demand decreased, increasing gasoline inventories. The price of crude oil also posted a sharp drop.
Delaware’s gas prices remain well below the national average.
If demand continues to soften and supply builds throughout this month, prices at the pump will likely continue to decline ahead of Labor Day weekend.
| Today’s Average | One Week Ago | One Month Ago | One Year Ago | |
| National | $3.16 | $3.18 | $3.15 | $2.18 |
| Delaware | $2.98 | $3.00 | $2.98 | $2.20 |
| Dover | $2.98 | $2.99 | $2.98 | $2.19 |
| Milford/Seaford | $2.98 | $2.99 | $2.99 | $2.20 |
| Wilmington/Newark | $2.99 | $3.01 | $2.98 | $2.21 |
| Maryland | $3.03 | $3.05 | $3.03 | $2.24 |
In NYMEX trading on Monday West Texas Intermediate (WTI) crude oil was trading at 64.16, up from $62.14 per barrel on Friday, but $6.30 below the previous weekly close.
Crude prices have dropped due to market concerns that crude demand will decline due to surging coronavirus infection rates worldwide.
Price decreases have occurred despite EIA’s latest report showing that total domestic crude stocks decreased.
“Summer gas demand is likely softening as the school year starts and concerns about transmission of Covid-19 grow as infection rates continue to increase,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “If gas demand continues to decline and crude prices do the same, Delaware Valley drivers could see a slight drop at the pump.”
To check out gas prices in your neighborhood, check out AAA’s Fuel Price Finder (http://www.AAA.com/fuelfinder)
The Fuel Price Finder reported that two independent stations in Middletown had among the state’s lowest prices, with Sun Gas at $2.84 a gallon, with a Cigto charging a penny more.
The long-time price leader, the Costco station near Christiana Mall posted a price of $2.86 a gallon but was topped on Monday by a Liberty station in Ogletown at $2.85.
Prices in the Bear-Christiana area were affected by independents cutting prices in nearby Elkton, MD. Appleton Market, west of Newark was posting a $2.76 a gallon price.
