Delaware gas prices have dropped below the national average during the past week.
AAA reported that the average price for regular gas dropped to $3.59 a gallon from $3.65 a gallon this time a week earlier. The national average was $3.66. Over the past week, Delaware’s average gas price was near the national average, despite the state’s low gas tax.
The price of regular dropped below $3.40 a gallon at several stations around Delaware.
“From a demand perspective, we have entered the pre-Memorial Day funk,” said Andrew Gross, AAA spokesperson. “And the cost of a barrel of oil is nearly $10 less than two weeks ago, as oil prices have fallen into the upper $70s. This may keep pump prices somewhat flat for the immediate future.”
According to new data from the Energy Information Administration, gas demand rose slightly from 8.42 million barrels a day to 8.62 last week. Meanwhile, total domestic gasoline stocks increased by 400,000 barrels to 227.1 million barrels. AAA noted that tepid demand, increasing supply, and falling oil prices could further reduce prices at the pump.
Tuesday
| Time frame | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $3.591 | $4.117 | $4.408 | $3.923 |
| Yesterday Avg. | $3.595 | $4.112 | $4.410 | $3.934 |
| Week Ago Avg. | $3.648 | $4.154 | $4.438 | $3.988 |
| Month Ago Avg. | $3.200 | $3.723 | $4.017 | $3.991 |
| Year Ago Avg. | $3.379 | $3.832 | $4.086 | $3.822 |
At the close on Monday, crude oil was trading at around $78 a barrel.
Prices dipped as the EIA reported crude oil inventories increased by 7.3 million barrels from the previous week. At 460.9 million barrels, U.S. crude oil inventories are about 3% below the five-year average for this time of year.
You can check out gas prices in the neighborhood or along travel routes with AAA’s Fuel Price Finder.
