Gas prices continue to drop

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Delaware gas prices fell about seven cents a gallon over the past week to $3.81 a gallon as of Saturday AAA reported.

It comes after a brief uptick in prices, perhaps due to mini-gas wars that appeared earlier in the month in areas with a concentration of independent stations.

Driving the price drop are consumers cutting back on consumption and worries about a possible recession.

RegularMid-GradePremiumDiesel
Current Avg.$3.813$4.326$4.583$4.792
Yesterday Avg.$3.824$4.320$4.590$4.802
Week Ago Avg.$3.883$4.358$4.627$4.864
Month Ago Avg.$4.354$4.836$5.047$5.361
Year Ago Avg.$2.989$3.402$3.653$3.281
Courtesy AAA

AAA’s Fuel Price Finder reported that the Middletown area is seeing a price war of sorts with regular selling for as low as $3.66 a gallon. Independent stations with lower prices may require cash only for the lowest price.

Kent County had the lowest average gas prices, followed by Sussex and New Castle counties.

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“Falling pump prices may eventually lead to more drivers hitting the road again,” said Andrew Gross, AAA spokesperson. “But that hasn’t happened yet. Instead, many drivers are waiting for prices to fall further before reverting to their typical driving habits.”

Crude oil, which accounts for 50 to 60% of the price at the pump, finished the week at nearly $90 a barrel.

AAA found that drivers are making significant changes to cope with high pump prices. In a recent survey, almost two-thirds of U.S. adults have changed their driving habits or lifestyle since March. Drivers’ top two changes to offset high gas prices are driving less and combining errands. 

There are indications that drivers are instead using savings from lower gas prices for purchasing necessities rather than taking to the roads.

Higher gas prices still hit many moderate or low-income families hard. In some cases, lower-income individuals purchase older used SUVs with lower miles per gallon figures than new vehicles. Those with long commutes also feel the impact of the higher prices, although many people now work at home a few days a week.

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