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The Week

In the last week, regional gas prices have seen both increases and decreases. The New Jersey average has risen by a penny, while the Philadelphia 5 county area gas average is the same as it was last week, and Delaware has seen a drop of two cents. Since last Friday, the national average for a gallon of regular gasoline has increased by three cents. In its latest weekly report, new data from the Energy Information Administration (EIA) showed that gas demand dropped while total domestic gas stocks increased. Typically, lower gas demand amid growing stocks would help push pump prices down, but the increasing price of crude has pushed prices up instead. 

Today’s national gas price average is $3.07, up three cents from one week ago, nine cents higher than one month ago and 99 cents more than one year ago.  

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

 

06/11/21

Week Ago

Year Ago

National

$3.07

$3.04

$2.08

New Jersey

$3.06

$3.05

$2.08

Trenton

$3.13

$3.11

$2.11

Cape May County

$3.08

$3.06

$2.08

Burlington

$3.04

$3.03

$2.02

Middlesex, Somerset, Hunterdon Counties

$3.07

$3.07

$2.11

Monmouth, Ocean Counties

$3.06

$3.05

$2.10

Crude Oil

$70.91 per barrel (06/11/21)

$69.62 per barrel (06/04/21)

$36.26per barrel (06/12/20)

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $70.91 per barrel, $1.29 higher than last Friday’s close. Crude prices crossed the $70/bbl threshold on Tuesday, a point they had not seen since mid-October 2018. Crude prices have increased due to optimism that vaccine rollout will continue to help crude demand recover and after the U.S. Consumer Price Index showed that prices increased by 5% in May, compared to last year, a larger increase than expected. The new report is fanning market concerns that inflation is driving prices higher. Additionally, crude prices have been bolstered by EIA’s latest report revealing that total domestic crude supplies decreased last week.

The Weekend
“New Jersey, Philly and Delaware drivers are seeing different trends at the pump this week,” said Tracy E. Noble, Manager of Public and Government Affairs for AAA Mid-Atlantic.  “However, if domestic crude prices remain high, drivers will likely continue to see pump prices fluctuate through the end of the month.”

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



AAA provides automotive, travel, and insurance services to 60 million members nationwide and nearly two million members in New Jersey.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, non-profit corporation working 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 (AAA.com/mobile) for iPhone, iPad and Android. For more information, visit www.AAA.com.

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On Tuesday, October 17, 2017, AAA and TEDx Wilmington held the first TEDx Salon dedicated to ideas worth spreading in transportation.

This event had:

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