Gas prices continue to fall after breaking records across the country earlier this spring that sent the national average and many state averages above the $5 a gallon mark for the first time in history.
After setting a record high of $4.99 per gallon on June 14, Delaware’s gas price average dropped below $4 a gallon for the first time since March on Friday.
Today the average price for regular grade, self-service gasoline in Delaware dropped to $3.99 per gallon, down 12 cents in the last week, down 69 cents from a month ago, down $1 since hitting a record-high in June ($4.99), yet remains 94 cents higher than this time last year.
Delaware’s average gas prices
| Timeframe | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $3.992 | $4.461 | $4.736 | $5.030 |
| Yesterday Avg. | $4.018 | $4.486 | $4.772 | $5.048 |
| Week Ago Avg. | $4.116 | $4.596 | $4.870 | $5.148 |
| Month Ago Avg. | $4.686 | $5.137 | $5.395 | $5.681 |
| Year Ago Avg. | $3.050 | $3.446 | $3.698 | $3.311 |
“It’s been five months since the gas price average was below $4.00 per gallon in Delaware,” said Jana Tidwell, Manager of Public and Government Affairs for AAA Mid-Atlantic. “After peaking in mid-June at $4.99 per gallon, prices in the First State, as well as around the country, have fallen consistently as crude oil prices have moved below $100 per barrel and gasoline demand has fallen off as motorists adjust their driving behaviors.”
The national average price for regular grade, self-service gasoline is $4.11 per gallon, down 14 cents in the past week, down 69 cents from a month ago, yet remains 92 cents higher than this time last year.
Multiple factors determine the fluctuation of prices at the pump – the price of crude oil (50-60% of a gallon of gasoline is made of crude oil), refining costs, taxes, supply and demand, international conflict, economic uncertainty, COVID, and hurricane season to name a few.
“Motorists have undoubtedly felt the pain at the pump this summer,” Tidwell noted. “Downward movement in gas prices will definitely make a difference for most people. AAA is cautiously optimistic that pump prices will continue to fall, particularly if the global price of crude oil does not spike, however the overall situation remains very volatile.”
Delaware joins 20 other states with gas price averages below the $4.00 per gallon mark: Alabama, Arkansas, Florida, Georgia, Iowa, Kansas, Kentucky, Louisiana, Missouri, Mississippi, North Carolina, Nebraska, New Mexico, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and Wisconsin.
