The Week

Maryland’s average continues to hold steady for the third consecutive week of February with most regions across the state following suit. While Western Maryland experienced a significant uptick a week ago, the region’s prices have stabilized this week.

Maryland’s average price is eight cents less than the national average at $2.22 per gallon. The state average is unchanged from last week and last month and 31 cents per gallon less than last year on this date.

Nationwide, some states experienced increases of two or three cents overnight, evident in the national average, which jumped two cents overnight.

Today’s national gas price average is $2.30, which is up two cents in the last week, up six cents in the last month, but is 24 cents less than this time last year.

At the close of NYMEX trading Thursday, West Texas Intermediate (WTI) crude oil settled at $54.41 per barrel, a $1.80 increase compared to last Thursday’s settlement price.  

After trending downward late last week, crude prices have been on the rise since Tuesday amid signs that OPEC is holding to its pledge to curb crude production. Earlier this week, Saudi Arabia pledged to cut an additional 500,000 barrels a day, according to the Financial Times. The potential for a positive outcome for trade talks between the U.S. and China, which could have a direct impact on energy demand, are also helping push crude oil prices higher.  

CURRENT AND PAST GAS PRICE AVERAGES 

Regular Unleaded Gasoline

The Weekend

“Regions across Maryland continue to see prices remain relatively stable from last week,” says Ragina Cooper Averella, Public and Government Affairs Manager for AAA Mid-Atlantic. “However, prices are expected to trend higher, as refineries begin their spring maintenance season in March and switch over to summer-blend gasoline.”

The Week Ahead

Drivers may see prices at the pump start to climb in the next few weeks as refinery maintenance season begins. Following maintenance season, gas stations will switch over to summer-blend gasoline. Summer-blend gasoline has a lower RVP to prevent excessive evaporation when outside temperatures rise. Reducing the volatility of summer gas decreases emissions that can contribute to unhealthy ozone and smog levels. A lower RVP also helps prevent drivability problems such as vapor lock on hot days, especially in older vehicles.

The US Environmental Protection Agency (EPA) says conventional summer-blend gasoline contains 1.7 percent more energy than winter-blend gas, which is one reason why gas mileage is slightly better in the summer. However, the summer-blend is also more expensive to produce, and that cost is passed on to motorists.

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

• Shell Fuel Rewards Program for AAA Members: (AAA.com/Shell) gives AAA members nationwide a discount on gasoline at Shell stations when they join the Fuel Rewards® program.

• Fuel Price Finder (AAA.com/fuelfinder) locates the lowest fuel price in your area. 

• AAA Gas Cost Calculator (GasPrices.AAA.com/AAA-gas-cost-calculator/) helps budget travel expenses. 

• TripTik Mobile (AAA.com/mobile) plots fuel prices along your travel route. 

• AAA's Member Rewards Visa® Credit Card (AAA.com/financial/AAAvisa.htm) accumulates double points on fuel purchases.

Next Weekend Gas Watch: Friday, February 22, 2019

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AAA provides automotive, travel and insurance services to 59 million members nationwide and more than 982,000 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.