If pain at the pump put you off from summer travel, a late-season road trip might be on the table.
Delaware’s gas average on July 29 is $4.11, down two cents from yesterday and 14 cents from last week. A year ago, Delaware’s gas average sat at $3.07.
The national average gas price is $4.27, a two-cent decrease from yesterday and a 16-cent decrease from last week. A month ago, the national gas average was $4.86.
Gas averages for various cities across the state include Wilmington’s $4.17, New Castle’s $4.12, $4.10 in Rehoboth Beach and Selbyville and Middletown and Smyrna’s $4.06.
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One of Delaware’s lowest pump prices can be found at Dover Air Force Base, with a gas average of $4.05.
Despite pump prices trending downward, current averages remain higher than last summer’s numbers. This time last year, the national gas average was $3.16.
According to AAA Mid-Atlantic spokeswoman Jana Tidwell, analysts believe gas prices may have peaked last month and are expected to continue decreasing unless there is a spike in crude prices or a disruption in oil refining. Hurricane season could also pose unpredictable variables that lead to price increases.
“Consumers appear to be taking the pressure off their wallets by fueling up less,” said Tidwell. “And there’s reason to be cautiously optimistic that pump prices will continue to fall, particularly if the global price for oil does not spike. But the overall situation remains very volatile.”
Two key factors behind the decline in gas prices are a decreased demand for gasoline and global economic headwinds pushing oil prices lower, added Tidwell.
Pump prices have continued to fall for the sixth straight week, having seen a decrease every day since June 14 when state and national averages peaked.
On June 14, the highest recorded national average was $5.01 on June 14, with $4.99 as Delaware’s gas average.
