As crude oil moves higher, gas prices in Delaware have risen by three cents a gallon for regular over the past week, AAA reported.
Despite a cratering in gas demand in the days since the July 4th holiday, pump prices crept higher over the past week.
The main culprit is a higher price for oil, which moved from the upper $60s per barrel recently to the mid-$70s as of Friday.
“Gas demand has fallen nearly 10 percent since the holiday, as folks have returned to their day-to-day driving routines,” said Andrew Gross, AAA spokesperson. “Typically, this would lower gas prices, but such a move is being countered for now by the increasing cost for oil, the main ingredient in gasoline.”
Areas along the Maryland border are seeing upward pressure on gas prices, with the Free State gas tax going up by more than four cents a gallon. That helps profit margins of gas stations along the border, with the gap between Maryland and Delaware’s lower gas tax rising to nearly 25 cents a gallon.
Despite the higher tax, gasoline prices in the Salisbury and Elkton areas are roughly the same as those on the other side of the line as stores and station management attempts to keep motorists from crossing the state line for a fill-up.
| Timeframe | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $3.439 | $3.916 | $4.199 | $3.693 |
| Yesterday Avg. | $3.439 | $3.903 | $4.187 | $3.697 |
| Week Ago Avg. | $3.469 | $3.931 | $4.212 | $3.712 |
| Month Ago Avg. | $3.361 | $3.862 | $4.124 | $3.664 |
| Year Ago Avg. | $4.504 | $4.971 | $5.221 | $5.515 |
Bargains were available in Delaware, mainly from membership clubs like BJ’s, Sam’s and Costco, which posted a price of $4.28 a gallon for regular. The clubs charge a membership fee of $20 to $60 a year.
According to new data from the Energy Information Administration, gasoline demand decreased from 9.6 to 8.76 million barrels a day last week. Meanwhile, total domestic gasoline stocks stayed flat at 219.5 million barrels. Although lower gas demand typically pushes prices lower, rising oil prices offset that factor. AAA reported that prices at the pump will likely follow suit if oil prices continue to rise.
In Delaware, the gas price is still more than $1 lower than during the same period a year ago.
Drivers can find current gas prices along their travel routes by using the AAA TripTik Travel planner.
