Gas prices rising after holiday


Delaware gas prices rose by about six cents a gallon during the past week as summer driving season continues, AAA reported.

Still, the price at the pump is only a couple of pennies higher than a month ago and $1.25 lower than during the same period a year earlier.

The lower gas prices contributed to near-record travel over the July 4th holiday.

To find gas prices in your neighborhood or vacation route, log on to AAA’s Fuel Price Finder.

Bargains were available, with one Middletown station posting a $3.14 gallon price on Thursday. By Friday, the price had risen by about 15 cents a gallon.

Current Avg.$3.439$3.910$4.183$3.698
Yesterday Avg.$3.412$3.874$4.152$3.682
Week Ago Avg.$3.371$3.852$4.142$3.679
Month Ago Avg.$3.404$3.868$4.119$3.678
Year Ago Avg.$4.628$5.077$5.352$5.635
From AAA

However, the overall trend was up with Delaware price leaders Wawa and Royal Farms raising prices by 10 cents a gallon to $3.50 at many stations. One motorist jokingly indicated that recouping discounts from Wawa’s Hoagiefest was responsible for the price jump.

Gas prices may rise over the next few days based on slightly higher demand,” said Andrew Gross, AAA spokesperson. “But it could be more of a blip than a trend, and demand may retreat once the holiday is further in the rearview mirror.” 

According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 9.31 to 9.6 million barrels a day last week. Meanwhile, total domestic gasoline stocks decreased by 2.5 million barrels to 219.5 million barrels. Rising gas demand amid decreasing supply will likely push pump prices higher. 

Despite announcements of production cuts by oil giants Russia and Saudi Arabia, one industry analyst is predicting $3 a gallon gas by fall, with oil giant ExxonMobil forecasting lower profits, partly due to lower refining margins.