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Delaware gas prices stay flat – might they have peaked?

Gas is selling for about $3.90 a gallon in Delaware, down one-cent from the previous week.  Some think this may be the start of a welcome downward trend.

AAA Mid-Atlantic says generally, prices remained below $4.00-per-gallon when they peaked in early April.  Gas prices are still up about nine-cents a gallon in the past month, and have jumped by 66 cents so far this year.  “While there is a chance the market has peaked, just shy of the $4.00 mark (in many areas), some analysts caution that there are numerous variables, both nationally and internationally, that could contribute to the continued rise in crude oil prices,” AAA Mid-Atlantic Public Affairs Specialist Jana Tidwell said.  “Since crude oil makes up more than 70 percent of a gallon of gasoline, increased crude oil prices would undoubtedly lead to increased gas prices.  Here in the Northeast, for example, multiple East Coast refinery shutdowns have squeezed supply chains and could continue to add to the price of gas in the region this summer.”  Gas retails for about $3.78 a gallon in south Jersey, and $3.97 in southeastern Pennsylvania.

 

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