The price of regular gas in Delaware rose by a dozen cents a gallon over the past week as crude oil prices increased.
It came despite lackluster demand in parts of the Sun Belt that may result of blistering temperatures.
Price leaders Wawa and Royal Farms, joined by major oil franchise stations, were charging $3.55 a gallon at many locations. Membership clubs, Sam’s, Costco, and BJ’s had prices below $3.38a gallon on Monday.
The price jump came despite neighboring areas of New Jersey and Maryland matching Delaware’s price, even though their gas tax is about 20 cents higher than Delaware’s.
|Week Ago Avg.||$3.414||$3.910||$4.171||$3.662|
|Month Ago Avg.||$3.390||$3.871||$4.151||$3.685|
|Year Ago Avg.||$4.218||$4.683||$4.974||$5.259|
“Gas demand barely budged from last week, yet compared to this time in 2022, it is higher nationwide except for the Gulf Coast, Texas, and New Mexico,“ said Andrew Gross, AAA spokesperson. “Some industry experts speculate that scorching temps in that region are keeping people off the road.”
According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 8.76 to 8.86 million barrels a day in the previous week.
Meanwhile, total domestic gasoline stocks fell from 219.5 to 218.4 million barrels If demand climbs and supplies tighten, pump prices will follow suit, AA noted.
Crude oil was approaching $77 a share late this week.
Due to extended repair timelines at refineries, lower refinery oil usage rates could influence how much oil prices decline.
The Energy Information Administration also reported that total domestic commercial crude inventories decreased by 700,000 barrels to 457.4 million barrels.
Drivers can find current gas prices along their route using the AAA TripTik Travel planner.