Kathleen Zinszer
Sr. Public Aff. Specialist, PA/DE
O: (302) 299-4168
C: (610) 291-7312
KZinszer@aaamidatlantic.com

The Week
Most drivers in the Delaware Valley have seen gas prices tick lower in the last week and are paying between three and nine cents less than they were on Labor Day. Meanwhile, the national average for a gallon of regular gasoline has increased by a penny as gas demand saw a slight increase and total domestic gasoline stocks saw a decrease. If demand continues to grow, pump prices could climb, however as the nation settles into fall, demand will likely decline as drivers take fewer road trips. 

Today’s national gas price average is $2.19, up a penny in the last week, unchanged in the last month, and down 46 cents from this time last year.

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

 

 

 

9/25/20

 

Week Ago

 

Year Ago

 

National

 

$2.19

 

$2.18

 

$2.65

 

Pennsylvania

 

$2.50

 

$2.49

 

$2.80

 

Philadelphia
(5-county)

 

$2.45

 

$2.46

 

$2.76

 

South Jersey

 

$2.17

 

$2.29

 

$2.58

 

Delaware

 

$2.17

 

$2.20

 

$2.49

 

Crude Oil

 

$40.25
per barrel
(Fri. 9/25/20 close)

 

$41.11
per barrel
(9/18/20)

 

$55.91
per barrel
(9/27/19)

 

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $40.25 per barrel, 86 cents lower than last Friday’s close. Domestic crude prices increased after the Energy Information Administration’s (EIA) weekly report revealed that total domestic crude inventories decreased last week. Decreasing stocks could signal that supply and demand are rebalancing. Crude prices may continue to increase if supplies grow tighter, but demand challenges could contain potential growth in prices. 

The Weekend
“Prices at the pump have been trending less expensive since Labor Day weekend and low demand for gasoline has contributed to that,” says Jana L. Tidwell, manager of Public and Government Affairs for AAA Mid-Atlantic. “Gas prices could be dictated by drivers throughout the fall and will depend on whether road travel and road trips pick up.”

The Week Ahead
Mid-September is when gas stations make the switch to winter-blend gasoline, which is less expensive to produce than summer-blend gasoline. Typically, gas prices trend lower as a result. With the nation entering the fall driving season, which typically sees fewer road trips, a continued drop in demand will likely lead to pump prices continuing to decrease. 

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

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 2, 2020

Follow us on Twitter: @AAAPhillyNews

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.

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TEDx Wilmington Salon

Who's in the Driver's Seat? The Transformation of Transportation

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

This event had:

  • 12 live talks given by 13 speakers
  • 368 people in attendance at the live event
  • More than 7,500 viewed the event online through Livestream, viewing events, and on the AAA Associate network
  • Online viewers came from all 50 states and approximately 30 countries around the world

View a slideshow from the event

This TEDx WilmingtonSalon was organized in partnership with AAA

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