Delaware gas price surge continues

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Delaware gas prices surged during the past week, thanks in part to a refinery shutdown in the Midwest.

The price at the pump in Delaware, as of Monday was $3.26 a gallon, up eight cents from a week ago and about 30 cents higher than a month ago.

Three dollar a gallon gas is getting hard to find, one exception being the Costco at Christiana Mall, which as of Monday was posting a $2.98 a gallon price. Many Wawa, Royal Farms and brand stations stations have been charging $3.30 a gallon for regular since last week.

According to AAA, a contributor to the surge is a shutdown at the BP-Whiting refinery in Indiana, which has been offline for more than two weeks due to a power outage. The refinery processes 435,000 barrels of crude per day, about three times the size of PBF’s Delaware City refinery. The shutdown caused prices throughout the Midwest to climb, pushing the national average higher as well.   

“Pump prices usually move higher this time of year, but a 12 cent jump (nationally) in one week is notable,” said Andrew Gross, AAA spokesperson. “However, the refinery shutdown will likely be resolved soon, so further increases at the pump should revert to slower and lower seasonal gains.” 

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Monday gas prices

TimeframeRegularMid-GradePremiumDiesel
Current Avg.$3.261$3.755$4.045$4.171
Yesterday Avg.$3.263$3.750$4.059$4.167
Week Ago Avg.$3.177$3.684$3.958$3.980
Month Ago Avg.$2.974$3.481$3.807$3.803
Year Ago Avg.$3.220$3.677$3.935$4.247
According to new data from the Energy Information Administration gas demand decreased from 8.81 to 8.17 million barrels a day.

Total domestic gasoline stocks declined by 3.7 million bbl to 247.3 million barrels. Lower gas demand would typically push pump prices down, but fluctuating oil prices and tight gas supply increase prices.

Crude oil was trading at $78 a barrel before the Monday opening. A sharp increase in supply signals that oil demand could be loosening, which may also put downward pressure on prices. 



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