Delaware gas prices continued to climb, despite stable crude oil prices and weaker demand.
The price at the pump rose seven cents a gallon in Delaware during the past week. Despite the state’s lower gas taxes, prices match the national average.
“Domestic gas demand is pretty pokey at the moment, which is often the case in the runup to Memorial Day and the traditional start of summer driving season,” Andrew Gross, AAA spokesperson said last week. “The recent national average price of $3.67 could be the peak until hurricane season is well underway. But as always, the wildcard will be the cost of oil, so stay tuned.”
As of Tuesday, the national average price was $3.66 a gallon, virtually during the past week.
Traders continue to monitor developments in the Middle East and Ukraine targeting Russian oil refineries.
AAA’s Fuel Price Finder reported that independent stations and membership clubs in northern Delaware continued to offer gasoline below $3.50 a gallon. Branded gas stations and convenience store chains have kept prices around $3.70 a gallon in many areas.
According to new data from the Energy Information Administration (EIA), gas demand fell from 8.66 to 8.42 million barrels a day last week. Meanwhile, total domestic gasoline stocks decreased slightly. Less demand and a drop in oil prices could push pump prices lower.
Delaware’s Tuesday gas prices
| Timeframe | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $3.655 | $4.165 | $4.449 | $3.971 |
| Yesterday Avg. | $3.654 | $4.160 | $4.459 | $3.986 |
| Week Ago Avg. | $3.581 | $4.087 | $4.382 | $3.990 |
| Month Ago Avg. | $3.246 | $3.772 | $4.065 | $4.024 |
| Year Ago Avg. | $3.426 | $3.905 | $4.154 | $3.861 |
As of Thursday morning, crude oil was trading at about $82.75 a barrel.
