Gas prices continued to drop with the approach of the busy Thanksgiving travel weekend.
AAA reported Sunday that that the price at the pump in Delaware has dropped 16 cents a gallon during the past week. Further
With the recent drop, the price at the pump in Delaware is the same as it was a month ago, but is still more than 30 cents than year-ago figure.
Earlier, Delaware’s gas price dropped below the national average after remaining above that figure during a period of tight supplies on the East Coast.
AAA’s Fuel Price Finder reported that the Middletown area is seeing the lowest gas prices, with one unbranded station at $3.50 a gallon. Middletown has a couple of independent stations with prices that are lower than market leaders Wawa and Royal Farms.
Delaware average gas prices
| Timeframe | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $3.654 | $4.123 | $4.442 | $5.844 |
| Yesterday Avg. | $3.664 | $4.141 | $4.447 | $5.842 |
| Week Ago Avg. | $3.816 | $4.256 | $4.547 | $5.949 |
| Month Ago Avg. | $3.650 | $4.100 | $4.388 | $5.468 |
| Year Ago Avg. | $3.332 | $3.700 | $3.962 | $3.647 |
The First State typically sells gas at a price below the national average due to its low fuel taxes.
AAA reported that based on data from the Energy Information Administration, gas demand decreased from 9.01 million b/d to 8.74 million barrels a day last week.
Meanwhile, total domestic gasoline stocks rose by nearly 2.2 million barrels to 207.9 million barrels. Increasing supply and falling gasoline demand have helped to move pump prices lower. As demand remains low and supplies grow, drivers will likely continue to see pump prices decline ahead of Thanksgiving.
Crude prices dropped this week despite the EIA reporting crude stocks fell by 5.4 million barrels last week. Instead, prices declined because the market is concerned that oil demand could decrease due to growing economic concerns.
If economic growth stalls or heads downward, crude demand and prices will drop, AAA report.
