Pennsylvania, New Jersey, and Delaware all saw a decrease in prices at the pump this week as demand for gas decreased. As demand remains low, American drivers should expect pump prices to continue to decline this fall.
Delaware gas prices remained nine cents above South Jersey, despite the Garden State’s sharply higher gas taxes.
The lowest prices in Delaware came in northern New Castle County, with warehouse clubs BJ’s and Costco offering $2 a gallon gas. Prices rose in Dover, which had seen the state’s lowest gas prices.
CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline (*indicates record high)
|
10/23/20 |
Week Ago |
Year Ago |
|
| National |
$2.16 |
$2.17 |
$2.62 |
| Pennsylvania |
$2.47 |
$2.48 |
$2.75 |
| Philadelphia (5-county) |
$2.44 |
$2.45 |
$2.72 |
| South Jersey |
$2.19 |
$2.21 |
$2.48 |
| Delaware |
$2.28 |
$2.32 |
$2.37 |
| Crude Oil |
$39.85 |
$40.88 |
$56.66 |
At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $39.85 per barrel, $1.03 lower than last Friday’s close.
“Delaware Valley gas prices are following the national average lead this week,” says Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Decreases in U.S. gasoline demand, supply and imports are pushing prices lower.”
As temperatures begin to cool across most of the country, hurricane season is still in effect, not ending until November 30. This year’s hurricane season has been exceptionally active but in terms of gas prices, low U.S. gasoline demand may have helped contain gas price impact when typically, hurricane season would have caused gas prices to spike.
To check out prices in your neighborhood log on to AAA’s Fuel Price Finder(http://www.AAA.com/fuelfinder).
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October 24, 2020 at 06:30AM
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Weakening demand poised to bring lower prices at gas pump - delawarebusinessnow.com
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