Delaware gas price drop second biggest in nation

Pixabay pumping gas


Delaware gas prices have dropped a dime in the past week after an earlier run-up. AAA reported Delaware’s second-biggest drop in gas prices among the 50 states, trailing only Florida.

Tepid pre-Memorial Day domestic demand and crude oil costs below $80 a barrel are contributing to the drop.  

Gas prices in Delaware had been running near the national average despite the state’s low gas tax. Delaware’s price at the pump for regular is about a dozen cents below the national average

“The current news cycle is jam-packed, so not having gas prices in the mix should be a welcome relief,” said Andrew Gross, AAA spokesperson. “Most consumers will probably see pump prices barely budging for now.”

AAA reported gas prices have fallen below $3.30 a gallon at some stations, including warehouse clubs in northern Delaware.

Gross cautioned that predictions of a busy summer travel season could increase demand and prices.

TimeframeRegularMid-GradePremiumDieselCurrent Avg.$3.495$4.029$4.314$3.821Yesterday Avg.$3.501$4.017$4.316$3.837Week Ago Avg.$3.591$4.117$4.408$3.923Month Ago Avg.$3.376$3.862$4.174$3.992Year Ago Avg.$3.382$3.830$4.086$3.766From AAA

According to new data from the Energy Information Administration (EIA), gas demand rose modestly from 8.62 million barrels a day to 8.79 last week. Meanwhile, total domestic gasoline stocks increased by nearly one million barrels to 228 million barrels.  Slack demand, rising supply, and falling oil prices could push pump prices lower. 

The price of crude oil has fallen to $78 a barrel.

You can check out gas prices in your neighborhood with AAA’s Fuel Price Finder.



This article was originally published by a delawarebusinessnow.com

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