AAA reported Delaware gas prices dropped more than a nickel a gallon in the past week as fears of production cuts in Russia faded.
The $3.24 price on Monday was more than a dime lower than during the same period a year ago. Price leaders Royal Farms and Wawa dropped prices in many areas before the Easter travel period.
Delaware’s average remained about 20 cents a gallon below the average national price at the pump.
“Uncertainty of the impact of Ukraine’s targeting of Russia’s oil infrastructure likely spiked oil prices recently,” said Andrew Gross, AAA spokesperson. “But those concerns have abated somewhat for now, and gas prices are settling into a pattern similar to last year when the usual seasonal increase was slow and steady.”
On Monday, a few stations around the state were offering $3 a gallon gas if customers paid for cash. Membership warehouses Costco and BJ’ offered prices below $3.10 a gallon in northern Delaware.
Monday gas prices
| Timeframe | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $3.238 | $3.779 | $4.049 | $4.025 |
| Yesterday Avg. | $3.242 | $3.769 | $4.058 | $4.023 |
| Week Ago Avg. | $3.298 | $3.819 | $4.109 | $4.067 |
| Month Ago Avg. | $3.168 | $3.675 | $3.977 | $4.084 |
| Year Ago Avg. | $3.356 | $3.789 | $4.058 | $4.042 |
According to new data from the Energy Information Administration, gas demand dipped slightly from 8.81 to 8.72 million barrels a day. Meanwhile, total domestic gasoline stocks increased by 1.3 million barrels to 232.1 million barrels.
On Monday morning, crude oil was trading at $83 a barrel.
Oil prices fell last week after the EIA reported that total domestic commercial crude stocks increased by 3.2 million barrels to 448.2 million. Although stocks increased when compared to a year ago, the current stock level is 25.5 million barrels lower than at the end of March 2023.
To check out gas prices on your travel route, log on to AAA’s Fuel Price Finder.
