Updated: Delaware’s average gas price drops by 7 cents over past week, but relief could be temporary

The price of regular gas in Delaware dropped by seven cents a gallon during the past week, Wilmington-based AAA Mid-Atlantic reported.

Based on information from AAA’s Fuel Price Finder, Wawa and Royal Farms backed off from recent price hikes. At the same time, the price gap narrowed between price leaders and long-time discounters like Costco, which has a station in the Christiana Mall area south of Newark.

The price at the pump is still a few cents higher than a month ago. However, Delaware’s average price for regular is well below the national average. (See below)

In its latest weekly report, the Energy Information Administration reported that gas demand increased last week at a figure that was  2% higher than the same time period in 2019, AAA reported.

Although the crude oil price fell below  $70 per barrel after moving into the mid-70s,  AAA expects the national average to remain above $3 per gallon throughout the summer.

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $66.45, per barrel, down a couple of dollars from recent figures.

Crude oil prices fell due to market concerns about the impact of rising global Covid-19 cases affecting demand. Crude prices also declined after EIA’s latest report showed that total domestic crude stocks increased last week.

Relief could be temporary.

“As crude prices change and gasoline demand increases heading into the end of the summer driving season, the slight break some local drivers are seeing at the pump may be short-lived,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic.  “The rise in Covid cases worldwide may push crude prices higher, leading to an increase in prices at the pump.”