Price at pump above national average despite the state’s lower gas tax
Wednesday’s gas price averages from AAA showed Delaware’s price at the pump rose more than three cents, following an 11-cent increase a day earlier.
Russia’s invasion of Ukraine is driving the prices, which are up more than 60 cents from a week ago.
Delaware’s gas prices rose above the national average of $4.17.3 a gallon, despite a state fuel tax that is six cents below the national average.
|Week Ago Avg.||$3.705||$3.988||$4.223||$4.076|
|Month Ago Avg.||$3.481||$3.793||$4.018||$3.832|
|Year Ago Avg.||$2.739||$3.110||$3.338||$3.014|
In Delaware, gas station/convenience store giants Wawa and Royal farms boosted prices to $4.30 a gallon at many of their stations, up a nickel from a day earlier.
Those living near the Maryland border could travel to Salisbury and Elkton where gas was selling at Wawa and Royal Farms stations at $4.20 a gallon. Both cities have more independent stations that are slower to raise prices, according to AAA’s Fuel Price Finder. Maryland’s gas tax is nearly 14 cents higher than the figure motorists pay in Delaware.
The GasBuddy crowdsourced site reported 10 stations in Delaware were selling gas below $3.15 a gallon. The lower prices were in northern Delaware.
Energy traders may be taking into account an end to buying Russian oil and pricing. President Biden announced the ban on Tuesday.
On Wednesday, the price of crude oil dropped by 10 to 12%. Even if the decline continues, it won’t bring immediate relief as gas prices fall at a much slower rate than the spikes seen in recent days.