After some relief at the pump, Delaware gas prices are beginning to creep upward.
As of Monday, the price at the pump was up four cents from the past week. However, the price per gallon was still 14 cents below month-ago figures.
“Pump prices appear to be defying the odds at the moment, despite the surge in the cost of oil,” said Andrew Gross, AAA spokesperson. “This uneasy balancing act may last until we get beyond hurricane season and its threats to Gulf Coast oil and gas production and refining.”
As of last week, Delaware had ranked third in the size of its gas price decline.
However, the price of crude oil may be moving toward the $90 a barrel mark, after Saudi Arabia and Russia agreed to production cuts.
|Week Ago Avg.||$3.524||$4.065||$4.323||$4.303|
|Month Ago Avg.||$3.700||$4.172||$4.463||$4.115|
|Year Ago Avg.||$3.429||$3.948||$4.226||$4.694|
According to new data from the Energy Information Administration, gas demand increased from 9.07 to 9.32 million barrels a day last week. Meanwhile, total domestic gasoline stocks dropped from 217.4 to 214.7 million barrels.