National Gas Prices Rise as Crude Oil Costs Remain High
The national average gas price has started to rise again after a brief drop in prices. According to AAA, the current national average is $4.07 per gallon of regular gasoline, up from $4.00 on Monday.
This increase is attributed to crude oil prices remaining in the $80 per barrel range amid ongoing uncertainty along the Strait of Hormuz. Although gasoline demand has decreased, with 8.96 million barrels per day last week compared to 9.03 million barrels per day the previous week, higher crude oil prices are keeping pump prices above normal for this time of year.
Delaware and South Jersey gas price averages have also dropped in the last week, but remain higher than one year ago. The Delaware average is $3.95, down 12 cents from last week and up 84 cents compared to one year ago.