The average Delaware gas price remained stable on Thursday after rising to $4.40 per gallon for regular, up about a dime from a week ago. It comes less than two months after prices broke the nearly 14-year record set in 2008. The price of diesel fuel is nearing $6 a gallon.
Nationally, the average retail price for a gallon of regular, self-service gasoline is two cents lower than the Delaware average. Delaware gas prices are typically below the national figure. Thursday gas prices can be a few centers lower, due to promotions at Shell and other stations.
Reasons for the disparity, despite Delaware’s lower gas tax, remain unclear but may center on tight supplies. See earlier opinion column.
Delaware average gas prices
|Week Ago Avg.||$4.287||$4.637||$4.885||$5.822|
|Month Ago Avg.||$3.945||$4.420||$4.668||$4.961|
|Year Ago Avg.||$2.891||$3.278||$3.481||$3.175|
“As long as gasoline supplies remain tight, it will be hard for crude oil prices to fall, and consumers will in turn face higher prices at the pump,” Jana Tidwell, spokesperson for Wilmington-based AAA Mid-Atlantic, said recently. “It now costs drivers in the U.S. about $23 more to fill up their gas tank than a year ago.”
Prices are on the rise again, primarily due to the high cost of crude oil. Fear of a global energy supply disruption due to Russia’s invasion of Ukraine outweighs demand concerns prompted by the impact of Covid-19 on China’s economy. Additionally, downward pressure on gas prices in Delaware occurred during Maryland’s temporary gas tax holiday, which expired on Easter weekend.
The cost of a barrel of crude continues to stay above $100 a barrel, with the Thursday figure at $107. Crude oil accounts for about 60% of a gallon of gasoline.
Two independent stations in Middletown were selling regular at $4.28 a gallon as of Thursday, with price leader Costco coming in at $4.30 at its station near Christiana Mall.
To check out gas prices in your neighborhood, click on AAA’s Fuel Finder.