AAA: Gas Prices Dropped Slightly Since Last Week, Expected to Increase Soon
The national average for a gallon of regular gasoline dropped slightly from the previous week to $2.92. According to AAA, pump prices are expected to start their seasonal climb soon, as spring approaches and summer-blend gasoline production begins. Tensions between the U.S. and Iran are another factor that could drive up crude oil prices. Right now, gas prices are the lowest they鈥檝e been for this time of year since 2021. The Delaware gas price average is $2.86 today, down a penny in the last week and 11 cents lower than one year ago. The South Jersey gas price average is $2.89 today, down a penny in the last week and down 9 cents compared to one year ago. The national average per kilowatt hour of electricity at a public EV charging station rose one cent to 39 cents and in Delaware one cent to 34 cents. At the close of Wednesday鈥檚 formal trading session, WTI rose $2.86 to settle at $65.19 a barrel. The EIA reports crude oil inventories decreased by 9 million barrels from the previous week. At 419.8 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.