AAA Contact

Tracy E. Noble

Manager, Public and Government Affairs

(609) 570-4131Office

(609) 306-2523Cell

Twitter:@AAANJNews

AAA News Releases:www.AAA.com/AAANews

The Week

Although the Gulf of Mexico is more than a thousand miles from New Jersey, Hurricane Laura’s landfall there early Thursday, coupled with an increase in demand for gasoline, has made an impact on local gas prices. In the last week, the average price for a gallon of regular unleaded gasoline has jumped seven cents in New Jersey, as well as in the Philadelphia 5 county region, and Delaware. As damage is assessed in the Gulf, AAA will have a better idea of how long motorists in impacted areas and beyond will see more expensive prices.

Today’s national gas price average is $2.23, up five in the last week, up five cents in the last month, and down 35 cents from this time last year.

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

 

 

 

08/28/20

 

Week Ago

 

Year Ago

 

National

 

$2.23

 

$2.18

 

$2.58

 

New Jersey

 

$2.23

 

$2.16

 

$2.62

 

Trenton

 

$2.28

 

$2.22

 

$2.67

 

Cape May County

 

$2.32

 

2.24

 

$2.64

 

Burlington

 

$2.20

 

2.12

 

$2.52

 

Middlesex, Somerset, Hunterdon Counties

 

$2.26

 

$2.16

 

$2.63

 

Monmouth, Ocean Counties

 

$2.28

 

$2.18

 

$2.64

 

Crude Oil

 

$42.97 per barrel (8/28/20)

 

$42.34 per barrel (08/21/20)

 

$55.10per barrel (8/30/19)

 

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $42.97 per barrel, 63 cents higher than last Friday’s close. Domestic crude prices decreased Thursday despite the Energy Information Administration’s (EIA) weekly report revealing that total domestic crude inventories decreased last week. However, total inventories are 80 million barrels higher than where they were during this time in August 2019. The higher level will help to stabilize crude prices, as 84% of crude production takes place in the Gulf of Mexico. 

The Weekend

“Earlier this week, pump prices jumped in anticipation of the disruption to operations at refineries and gasoline distribution along Hurricane Laura’s path,” says Tracy E. Noble, manager of Public and Government Affairs for AAA Mid-Atlantic. “However, ample gasoline stock levels should contain any significant pump price increases to impacted areas while the rest of the country sees minimal change.”

The Week Ahead

Ahead of Hurricane Laura’s landfall, hundreds of production platforms and almost a dozen oil rigs were shuttered. Gas and oil prices will be dependent on how quickly U.S. refining in the Gulf Coast is restored. Early estimates are positive that supply will remain adequate as refineries and oil rigs resume full operation.

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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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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