Gas price up about 9 cents during past week

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Delaware gas prices remained largely unchanged in recent days but are still about nine cents above the figure a week ago, AAA reported. During the same period, diesel fuel prices held steady.

Prices have been affected by the OPEC+ cartel deciding to cut production. The move has taken away one of the bright spots in the battle against inflation.

A 20-gallon fill-up of a business vehicle with regular is about $5.50 higher than the amount paid a month ago.

AAA’s Fuel Price Finder reported regular was available at warehouse clubs like Costco, at around $3.40 a gallon. The dominant Wawa and Royal Farms chains have stayed with $3.60 a gallon gas in many locations.

Delaware average gas prices on Monday

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RegularMid-GradePremiumDiesel
Current Avg.$3.566$4.008$4.252$4.088
Yesterday Avg.$3.570$3.992$4.252$4.087
Week Ago Avg.$3.485$3.930$4.188$4.072
Month Ago Avg.$3.268$3.702$3.978$3.967
Year Ago Avg.$3.905$4.359$4.620$4.926

“When the cost of crude oil crosses the $80 a barrel mark, that puts a lot of upward pressure on what we pay at the pump,” said Andrew Gross, AAA spokesperson, “and as long as oil costs remain at the current level, drivers will likely see incremental price increases for now.”

According to new data from the Energy Information Administration, gas demand decreased from 9.3 to 8.94 million barrels a day last week. Meanwhile, total domestic gasoline stocks dropped slightly by 400,000 bbl to 222.2 million bbl.

Lower demand would typically push pump prices down; instead, elevated oil prices have pushed them higher. If the price of crude continues to rise, prices at the pump will follow suit, AAA noted.

5 years national average comparison
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