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Tracy E. Noble

Manager, Public and Government Affairs

(609) 570-4131Office

(609) 306-2523Cell

Twitter:@AAANJNews

AAA News Releases:www.AAA.com/AAANews

AAA Mid-Atlantic: Most Local Gas Prices in Park

This summer is the cheapest at the pump for motorists in more than a decade.

The Week
Gas prices around the region saw little movement over the past week. New Jersey, the Philadelphia 5 county region and Delaware are all within two cents of prices seen one week ago and within seven cents of prices a month ago. The big difference can be seen in how much drivers are paying this August versus last August. The tri-state area is paying up to 58 cents less than one year ago.

Today’s national gas price average is $2.18, unchanged in the last week and the last month, and down 51 cents from this time last year.

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

 

 

 

08/07/20

 

Week Ago

 

Year Ago

 

National

 

$2.18

 

$2.18

 

$2.69

 

New Jersey

 

$2.17

 

$2.18

 

$2.76

 

Trenton

 

$2.22

 

$2.22

 

$2.76

 

Cape May County

 

$2.26

 

$2.26

 

$2.79

 

Burlington

 

$2.14

 

$2.16

 

$2.68

 

Middlesex, Somerset, Hunterdon Counties

 

$2.18

 

$2.20

 

$2.76

 

Monmouth, Ocean Counties

 

$2.19

 

$2.20

 

$2.78

 

Crude Oil

 

$41.22 per barrel (8/7/20)

 

$40.27 per barrel (7/31/20)

 

$54.50per barrel (8/7/19)

 

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $41.22 per barrel, 95 cents higher than last Friday’s close. Even though crude oil supplies decreased for a second week, oil futures posted the highest close since March on Wednesday ($42.19). Prices fluctuated the rest of the week following the news that gasoline inventories showed an unexpected rise which nods toward a decrease in gasoline demand.

The Weekend
“This summer is no doubt the cheapest at the pump for motorists in more than a decade. The last two months have yielded a national average of $2.14,” says Tracy E. Noble, manager of Public and Government Affairs for AAA Mid-Atlantic. “While we expect to see typical fluctuation, August gas prices are not expected to spike, especially amid increases in COVID-19 cases.”

The Week Ahead
In the new weekly report from the Energy Information Administration (EIA), gas demand fell from 8.8 million b/d to 8.6 million b/d. Decreasing demand for gasoline has helped pump prices to stabilize, and if demand continues to drop, pump prices could push cheaper in the coming week.

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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