Gas prices dropped another three cents a gallon between Tuesday and Wednesday, according to AAA.
The price at the pump in Delaware has dropped nearly 60 cents in the past month and is well below the record price of nearly $5 a gallon for regular.
Delaware average gas prices
| Timeframe | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $4.354 | $4.836 | $5.047 | $5.361 |
| Yesterday Avg. | $4.386 | $4.879 | $5.116 | $5.406 |
| Week Ago Avg. | $4.548 | $5.019 | $5.255 | $5.557 |
| Month Ago Avg. | $4.953 | $5.374 | $5.638 | $5.926 |
| Year Ago Avg. | $3.000 | $3.389 | $3.644 | $3.230 |
Global economic headwinds are pushing oil prices lower and less expensive oil leads to lower pump prices,” Andrew Gross, AAA spokesperson stated in report earlier in the week. “And here at home, people are fueling up less, despite this being the height of the traditional summer driving season. These two key factors are behind the recent drop in pump prices.”
According to new data from the Energy Information Administration, gas demand dropped from 9.41 million barrels a day to 8.06 million barrels a day last week, while total domestic gas stocks increased by 5.8 million barrels. As long as these supply/demand dynamics hold, drivers will likely continue to see price relief at the pump, AAA reported.
Crude oil prices rose off last week’s lows to nearly $100 a barrel, perhaps limiting the rate of decline in the price at the pump.
The nation is also entering a period when Gulf Coast hurricanes could affect gas prices.
In Delaware, the lowest average prices are in Sussex County, despite the fact that the coastal area is nearing peak tourist season. Prices are highest in New Castle County. A number of stations in Sussex were offering gas at $4.20 a gallon.
To check out fuel prices in your neighborhood and elsewhere, log on to AAA’s Fuel Finder.
