No Price Break at the Pump for Local Drivers

The Week
Delaware Valley drivers saw a week of increases at the pump – Pennsylvania saw an increase of a penny, while New Jersey was up by two cents and the First State jumped nine cents. Philadelphia’s gas average is up by six cents while South Jersey increased by three cents. In its latest weekly report, the Energy Information Administration (EIA) reported that gas demand increased slightly last week while total domestic gas stocks declined. These trends have helped to stabilize price increases in some areas of the country; however, crude oil prices continue to remain above $70 per barrel. As crude prices remain high, AAA expects the national average to remain above $3 per gallon throughout the summer.

Today’s national gas price average is $3.16, up a penny from one week ago, five cents higher than one month ago and 97 cents more than one year ago. 

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 $73.95 per barrel, $1.88 higher than last Friday’s close. A weaker dollar helped to push prices up Thursday, while market concerns surrounding demand recovery continue to grow. Crude prices were also bolstered after EIA’s latest report showed that total domestic crude stocks declined last week.

The Weekend
“Although the national gasoline average has seen little movement in the last week, Delaware Valley drivers are feeling the pain at the pump, especially in Delaware,” said Jana L. Tidwell, Manager of Public and Government Affairs for AAA Mid-Atlantic.  “For pump prices to push less expensive, OPEC will need to follow through with production increases, crude will need to sell consistently at lower prices and the market will need to adjust to the potential resurgence of COVID cases.”

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, August 6, 2021

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AAA provides automotive, travel, and insurance services to more than 62 million members nationwide and more than three 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.  AAA is a non-stock, membership corporation working on behalf of motorists, who can map a route, access a COVID travel restriction map, find local gas prices and electric vehicle charging stations, discover discounts, book a hotel, and track their roadside assistance service with the AAA Mobile app (AAA.com/mobile) for iPhone, iPad and Android.  For more information on joining or renewing a Membership, visit www.AAA.com.