Gas prices remain steady in Delaware

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The gas price fell by a penny in Delaware as gas demand decreased slightly, Wilmington-based AAA Mid-Atlantic reported.

Nearby areas saw the price at the pump increase.

The lowest price at the pump was $2.21 at Sam’s Club in Dover. However, Costco and BJ’s raised prices to $2.27 a gallon. 

According to new data from the Energy Information Administration, total domestic gasoline supplies increased, and total crude utilization at domestic refineries improved slightly.

Below are Monday prices

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  • Pennsylvania’s gas average is $2.76 today, unchanged overnight and up 6 cents in the last week.  
  • The Philadelphia (5-county) area gas average is $2.76 today, up a penny overnight and up 7 cents in the last week.  
  • New Jersey’s gas average is $2.60 today, unchanged overnight and up 4 cents in the last week.
  • S. Jersey’s gas average is $2.57 today, up a penny overnight and up 2 cents in the last week. 
  • Delaware’s gas average is $2.43 today, unchanged overnight and down a penny in the last week.  
  • Dover’s gas average is $2.43 today, unchanged overnight and down a penny in the last week.  

In NYMEX trading on Monday West Texas Intermediate (WTI) crude oil sold at $57.87 per barrel,  the highest settlement price in 2021.

Crude prices rose after the Organization of the Petroleum Exporting Countries (OPEC) and its production reduction agreement partners met to review compliance with their agreement to collectively reduce their crude production by 7.2 million barrels per day.

The group decided to hold the cuts steady and expects output to remain low this year since demand is forecast to be lower than expected throughout 2021 due to ongoing crude demand concerns as the pandemic continues to keep travel restrictions in place.

Crude prices have also been bolstered by EIA’s latest report showing that total domestic crude inventories dropped last week.

“Local drivers have seen increases of at least two cents at the pump this week,” said Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “An increase in crude utilization and increasing crude prices have and will continue to contribute to higher pump prices for drivers throughout the month.”

To check out prices in your neighborhood, log on to AAA’s  Fuel Price Finder (http://www.AAA.com/fuelfinder).

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