Gas prices jumped by eight cents a gallon in Delaware during the 4th of July week, according to AAA Mid-Atlantic.
Gas now retails for $3.40 a gallon in the First State. Prices had been on the decline for nearly three months before the early July increase. “Crude oil, and in turn gas prices, gained upward momentum this week, leaving many to wonder if we have seen the summer low for 2012,” AAA Mid-Atlantic Public Affairs Specialist Jana Tidwell said. “Analysts believe we very well may have, as they now project prices will hover close to where they are now or just a bit higher, barring any hurricane or international oil disruption in the coming months, both of which would send prices higher quickly.” The national average for gas is $3.38. A gallon costs about $3.32 in South Jersey and $3.45 in southeastern Pennsylvania.