Delaware gas prices rose by a dime during the past week as demand weakened nationwide, AAA reported.
Fears of a global economic recession led to a major drop in the price of crude dropping by about $7 a barrel.
Meanwhile, domestic gasoline demand decreased as fewer drivers fueled up in the first half of October. According to the Energy Information Administration, gas demand decreased nationally from 9.47 million barrels a day to 8.28 million barrels a day, and total domestic gasoline stocks increased by two million barrels.
Delaware’s average gas prices
| Timeframe | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $3.670 | $4.096 | $4.405 | $5.349 |
| Yesterday Avg. | $3.671 | $4.096 | $4.389 | $5.328 |
| Week Ago Avg. | $3.567 | $3.986 | $4.272 | $4.889 |
| Month Ago Avg. | $3.349 | $3.832 | $4.113 | $4.640 |
| Year Ago Avg. | $3.260 | $3.622 | $3.867 | $3.490 |
If demand continues to drop coupled with a slide in oil prices, drivers could see increases in prices at the pump slow and even come down.
Delaware and Maryland have seen the largest upticks in prices among the 50 states and did not see declines reported in other states during the past week. Delaware gas prices remain below the national average, which is affected by high gas prices in California.
As of Monday, the price of crude oil on the Nymex exchange was below $86 a barrel.
Crude prices decreased last week as global economic fears pulled crude prices lower. For this week, crude prices could continue to weaken as interest rates rise globally. If a recession occurs, crude prices would likely reduce alongside demand.
Drivers can find current gas prices along their route using the AAA TripTik Travel planner.
A Liberty gas station in Wilmington appeared to post the lowest price in the state at $3.34, followed by the Costco near Christiana Mall.
