Gas prices continue to fall in Delaware.
After nearing $5 a gallon in June, the average gas price for regular in the First State fell anther three cents between Wednesday and Thursday.
On Thursday, the average national gas price dropped to $4 a gallon for the first time since March. The price at the pump is still about 85 cents higher than the same period a year earlier.
According to AAA, the cost of filling up a 15 gallon tank with regular is about $57, down from $59 a week ago and $68 a month ago. Last year, a fill-up totaled about $45.
Delaware gas prices
| Timeframe | Regular | Mid-Grade | Premium | Diesel |
|---|---|---|---|---|
| Current Avg. | $3.862 | $4.347 | $4.635 | $4.894 |
| Yesterday Avg. | $3.892 | $4.372 | $4.626 | $4.926 |
| Week Ago Avg. | $4.018 | $4.486 | $4.772 | $5.048 |
| Month Ago Avg. | $4.580 | $5.053 | $5.306 | $5.596 |
| Year Ago Avg. | $3.011 | $3.418 | $3.653 | $3.289 |
“It’s been five months since the national gas price average was below $4 per gallon,” said Jana Tidwell, manager of public and government affairs for AAA Mid-Atlantic. “After peaking in mid-June at $5.01 per gallon, the national gas price average, as well as many other states across the country, has fallen consistently as crude oil prices have moved below $100 per barrel and gasoline demand has fallen off as motorists adjust their driving behaviors.”
Multiple factors determine the fluctuation of prices at the pump – the price of crude oil (50-60% of the cost of gallon of gasoline) is made of crude), refining costs, taxes, supply and demand, international conflict, economic uncertainty, Covid, and hurricane season.
Crude oil was trading at about $93 a barrel on Thursday after nearing $120 a barrel earlier in the year.
AAA’s Fuel Finder reported gas prices as low as $3.66 at a station in Middletown.
“Motorists have undoubtedly felt the pain at the pump this summer,” Tidwell noted. “Downward movement in gas prices will definitely make a difference for most people. AAA is cautiously optimistic that pump prices will continue to fall, particularly if the global price of crude oil does not spike, however the overall situation remains very volatile.”
About half of the states in the U.S. have gas prices below #4.