The Week

Maryland saw a decrease in prices at the pump this week as demand for gas decreased. As demand remains low, American drivers should expect pump prices to continue declining this fall. The gas price average in Maryland today is $2.28, down three cents from last week, up five cents in the last month and down 20 cents from this date last year.

Today’s national gas price average is $2.16, down respectively a penny in the last week, three cents from last month and, 46 cents from this time last year. 

CURRENT AND PAST GAS PRICE AVERAGES

Regular Unleaded Gasoline

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $39.85 per barrel, $1.03 lower than last Friday’s close. Domestic crude prices increased despite market concern about increasing coronavirus infections worldwide, which could lower crude demand as countries impose new restrictions that will likely limit oil consumption. However, if demand concerns continue to weigh on the market, crude prices — and gas prices — could decrease.

The Weekend

“Maryland gas prices are following the national average lead this week,” said Ragina C. Ali, Public and Government Affairs Manager at AAA Mid-Atlantic. “Decreases in U.S. gasoline demand, supply and imports are pushing prices lower.”

The Week Ahead

As temperatures begin to cool across most of the country, hurricane season is still in effect, not ending until November 30. This year’s hurricane season has been exceptionally active, but in terms of gas prices, low U.S. gasoline demand may have helped contain gas price impact when typically, hurricane season would have caused gas prices to spike.

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. 

Next Weekend Gas Watch: Friday, October 30, 2020

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AAA provides automotive, travel and insurance services to over 60 million members nationwide and nearly 988,000 members in Maryland.  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 app for iPhone, iPad and Android.  For more information, visit AAA.com.