Delaware gas prices continue their slow decline

Delaware gas prices have continued their gradual decline, which began around Memorial Day.

The price at the pump has dropped six cents over the past week in the First State.

Gas prices have dropped below $3.30 a gallon at some stations around the state, with a Costco and a BJ’s warehouse club selling regular at $3.20 a gallon in northern Delaware.

Saturday average gas prices

“This drop in pump prices appears to have some sticking power for now,” said Andrew Gross, AAA spokesperson. “More states should see their averages dip below $3 a gallon in the coming weeks.”

According to new data from the Energy Information Administration (EIA), gas demand dipped from 9.14 barrels a day to 8.94 barrels a day last week. Meanwhile, total domestic gasoline stocks jumped from 228.8 to 230.9 million barrels. Tepid gasoline demand, increasing supply, and falling oil costs will likely lead to falling prices.

At the close on Friday, crude oil was trading at $75.78. Last week, the price was nearly $78 a barrel. The EIA reports that crude oil inventories increased by 1.2 million barrels from the previous week. At 455.9 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.  

Drivers can find current gas prices along their route using the AAA TripTik Travel planner.