Delaware gas prices barely budged during the past week as global tensions limited any downward momentum.
Still, the price at the pump was about a quarter less than a month earlier and 44 cents below this time a year ago.
Limiting the declines were crude oil prices, which were running in the mid-80s per barrel.
Delaware now has the 10th lowest gas prices in the nation. West Coast states saw the biggest decline in gas prices over the past week.
In Delaware, $3 a gallon gas was harder to find, with the lowest prices coming from the Costco membership club at $2.98 a gallon. Earlier, the price of regular was in the $2.90 range at some stations. Lower prices often required a cash purchase or in the case of Costco a membership fee.
| Timeframe | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $3.185 | $3.710 | $4.015 | $4.294 |
| Yesterday Avg. | $3.185 | $3.718 | $4.029 | $4.296 |
| Week Ago Avg. | $3.201 | $3.761 | $4.040 | $4.300 |
| Month Ago Avg. | $3.399 | $3.931 | $4.221 | $4.326 |
| Year Ago Avg. | $3.761 | $4.157 | $4.484 | $5.585 |
“The oil market is very sensitive to global events, and fears of a widening war in the Middle East is keeping oil prices elevated for now,” said Andrew Gross, AAA spokesperson. “Domestically, drivers will likely see pump prices keep up this slow slide toward the holidays.”
The war between Israel and Hamas led to dire predictions of soaring gas prices from some if the conflict widened. The war that came after an invasion by the terrorist group does not involve areas of the region with oil reserves.
According to new data from the Energy Information Administration gas demand decreased from 8.94 to 8.86 million barrels a day last week. Total domestic gasoline stocks increased slightly to 223.5 million barrels.
If oil prices continue to drop, drivers can expect further declines at the pump in the weeks ahead, AAA reported.
