The Week
Depending on where you live in the tri-state area, you’ve been paying more or less at the pump. Philadelphia 5 county region drivers are paying a penny less than last week while Delaware drivers saw a two cent increase over last week and South Jersey motorists saw a jump of four cents on the week due to New Jersey’s new 9.3-cent gas tax increase that went into effect on October 1. The national average is unchanged on the week as gas demand saw a slight uptick. However, as the nation settles into fall, demand will likely decline as drivers take fewer roads trips.

Today’s national gas price average is $2.19, unchanged in the last week, down four cents in the last month, and down 47 cents from this time last year.

CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline (*indicates record high)

 At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $37.05 per barrel, $3.20 lower than last Friday’s close. Crude prices fell later in the week due to market concern about increasing coronavirus infections worldwide, which could lower crude demand. The drop in prices occurred despite the Energy Information Administration’s (EIA) weekly report revealing that total domestic crude inventories decreased. Crude prices may continue to decrease if demand challenges persist. 

The Weekend
“It’s been a mixed bag across the region this week, with some areas seeing a decrease in prices at the pump, while others see a measurable increase,” says Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Despite any movement in gas prices, local drivers are paying more than 20 cents less than just one year ago.”

The Week Ahead
New Jersey drivers will see gas price increases over the next few weeks as a result of the state’s new 9.3 cent per gallon gas tax. The New Jersey Treasury Department announced the tax hike in September, citing a 2016 law requiring the state maintain $16 billion over eight years for the Transportation Trust Fund, which supports improvements to bridge and road infrastructure. Although there will be an increase, drivers will pay less than last year as a result of COVID-19.

AAA has a variety of resources to help motorists save on fuel:

• Shell Fuel Rewards Program for AAA Members: (https://www.AAA.com/Shell) gives AAA members nationwide a discount on gasoline at Shell stations when they join the Fuel Rewards® program.
• Fuel Price Finder (https://www.AAA.com/fuelfinder) locates the lowest fuel price in your area.
• AAA Gas Cost Calculator (https://gasprices.aaa.com/aaa-gas-cost-calculator/) helps budget travel expenses.
• TripTik Mobile (https://www.aaa.com/mobile) plots fuel prices along your travel route.
• AAA's Member Rewards Visa® Credit Card  (https://www.AAA.com/financial/AAAvisa.htm) accumulates double points on fuel purchases.

AAA is the most comprehensive resource for gas prices. Unlike the Lundberg Survey of 7,000 gas stations, AAA reports reflect actual prices from credit card transactions at more than 100,000 gas stations in the U.S.

Next Weekend Gas Watch: Friday, October 9, 2020

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AAA provides automotive, travel and insurance services to 60 million members nationwide and more than 3.2 million members in Pennsylvania.  AAA advocates for the safety and mobility of its members and has been committed to outstanding road service for more than 100 years.  The not-for-profit, fully tax-paying member organization works on behalf of motorists, who can now map a route, find local gas prices, discover discounts, book a hotel and track their roadside assistance service with the AAA Mobile appss for iPhone, iPad and Android.  For more information, visit www.AAA.com.