United States News Delaware Despite NJ's higher gas tax, Del. drivers pay...

Despite NJ’s higher gas tax, Del. drivers pay 11 cents more a gallon – Delaware Business Now


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Delaware saw a sharp increase in gas prices during the past week despite the First State’s lower gas taxes.

The nine-cent increase came despite neighboring South Jersey seeing no change, even though its gas tax is now more than 25 cents higher than Delaware’s rate per gallon.

Motorists in the Philadelphia area, on average, pay only 22 cents a gallon more than their Delaware counterparts, even though the First State’s gas tax is a half dollar lower.

There are bargains to be had in Delaware. Warehouse clubs BJ’s and Costco this week were charging $2 a gallon, with a couple of stations in Dover matching that price.

Warehouse clubs charge between $55 and $60 a year for a membership. Drivers driving 10,000 miles or more a year can quickly recoup the membership fee.

A decrease in East Coast gasoline inventories, a short interruption of the Colonial Pipeline due to Hurricane Delta a week ago, and possible heightened retailer supply concerns may have caused the increase in the First State, Wilmington-based AAA Mid-Atlantic reported.

Nationally, a new weekly report from the Energy Information Administration (EIA), showed gas demand decreased. Prices will likely continue to decline as demand drops due to fewer road trips taken in the fall.

Friday’s national gas price average is $2.17, down a penny in the last week, down a penny in the last month, and down 48 cents from this time last year.

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Regular Unleaded Gasoline (*indicates record high)


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Crude Oil

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At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $40.88 per barrel, 28 cents higher than last Friday’s close.

Domestic crude prices fell slightly later in the week as market concern increased regarding growth in coronavirus infections worldwide, which could lower crude demand as nations impose new restrictions to limit the spread of the virus.

The drop in prices occurred despite the Energy Information Administration’s (EIA) new weekly report showing that total domestic crude inventories dropped last week.

“Nationally, gas prices in are decreasing as demand slips,” says Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Locally, the Delaware Valley has seen a bit of everything this week. AAA advises consumers to look for the best gas price before heading out to fill up.”

According to a recent AAA Travel survey, American travelers are opting for spur-of-the-moment fall travel decisions as they take coronavirus implications into account. Lower prices at the gas pump may also be motivating some would-be travelers to hit the road.

On average, gas prices nationally are nearly 50 cents cheaper than this time last year, and are the cheapest fall prices since 2016. AAA advises travelers to take proper precautions that include sanitizers, frequent hand washing and masks

Motorists can find the cheapest prices in their area through the Fuel Price Finder(http://www.AAA.com/fuelfinder).

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