Gas prices have spiked, and there’s no immediate relief in sight.
Across the country, concerned drivers continue to see prices on gas station signs tick upward, reaching an eight-month high.
In Delaware, prices per gallon have hovered around, and often surpassed, the $3.50 mark. And according to AAA, fuel at the pump is expected to stay pricey throughout August.
“It’s pretty easy to predict that gas prices will be considerably higher for the short term,” Jana Tidwell, manager of public and government affairs for AAA Mid-Atlantic, told Delaware Online/The News Journal.
Here’s what you need to know about gas prices in Delaware in August.
GAS PRICES TODAY:We’ve got your guide to finding the cheapest Delaware gas prices
Why are gas prices rising?
Around this time last year, the nationwide average for a gallon of gas was a whopping $4.33. So with averages decently under the $4 mark, it would make sense to be satisfied with the year-to-year comparison.
But many are rightfully worried about a recent jump in the short term. AAA reported last week that the national average rose 13 cents over a one-week period to $3.71. Delaware motorists are seeing lots of stations in the $3.50 range, and for those in Kent County, even above the $3.60 barrier.
One of the factors in this recent rise is the price of crude oil. Tidwell said crude oil prices have gone up about $10 per barrel in the last month to around $80 per barrel.
Before the summer spike, crude oil prices were hanging steady around the $50 to $60 per barrel range. Per barrel costs were around a hefty $120 last year.
Still, the short-term increase is a factor in rising gas prices. A gallon of gasoline is made up of around 50% to 60% crude oil, Tidwell said.
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Another cause to blame: The heat wave
Tidwell mentioned another reason that gas prices have risen is the recent heat wave that finished July off with a glean of sweat.
Consecutive days with 100-plus temperatures forced some oil refineries to shut down temporarily, which has pushed gas prices higher and higher.
“Refineries are, for lack of a better word, sputtering,” Tidwell said.
With most refineries in the south and near the Gulf of Mexico, temperature concerns are well-placed. Tidwell said she’s never truly seen a pattern like this summer’s in years prior, with record-breaking heat and refineries having to temporarily close.
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When will gas prices decrease?
The trajectory of crude oil prices and refineries in August is likely to remain mostly unchanged, meaning there’s not likely to be an immediate drop in gas prices for Delawareans.
“Many analysts believe that crude oil will remain within that $70 to $85 per barrel range for the remainder of the year, of course, barring any unforeseen circumstances,” Tidwell said.
And with summer temperatures pervading throughout August, it’s possible refineries might experience another quick shutdown if heat waves occur.
Tidwell also noted that AAA has seen a notable rebound in summer travel this year — more people are taking the “great American road trip,” and August will only continue the trend of travel this summer.
Especially in Delaware, Tidwell said, motorists will be looking to enjoy their final beach trips before summer wraps up. Increased travel will create an increased demand for gas, and thus, higher prices.
Once September rolls around, though, prices are more likely to settle back down.
“There will be relief in sight once we settle into September. When people return to normal driving patterns, you’re back to work, kids are back to school, kids are back to college.”
Watch out for hurricane season
Tom Kloza, global head of energy analysis at Oil Price Information Service, told USA TODAY that “there is the fear of more refinery downtime along with the major fear of a hurricane probability cone in the Gulf of Mexico.”
That’ll impact the Mid-Atlantic states, including Delaware, Tidwell said. Because those oil refineries are so critical to gasoline everywhere, it won’t matter if a hurricane or tropical storm is headed for the First State or not.
In fact, gas prices could rise due to just the threat of a hurricane.
“It could just be a precautionary measure to shutter refineries in the Gulf Coast,” Tidwell said, “or we see a major hurricane hit the refineries in the Gulf Coast and they’re offline for a significant amount of time.”
Tips to save gas
AAA has a laundry list of ways to save on gas, especially during trips to the beach or vacation drives this summer.
- Get your vehicle checked. Make sure your car is maintained well, so it’s running effectively and not burning extra gas. Check your owner’s manual to see how often car maintenance is recommended.
- Inflate your tires. AAA notes that under-inflated tires could cost you mileage, by around 3%. It’s recommended to check them every two weeks with an air pressure gauge.
- Don’t always buy premium gas. Tidwell said she sees a lot of motorists buy premium gasoline without actually knowing whether it’s beneficial. Check your owner’s manual to verify if premium gas is recommended. More than $2.1 billion is wasted every year on unnecessary premium gas, a AAA study showed.
- Play by the speed limit. “Each 5 MPH you drive over 60 MPH is like paying an additional $0.15 per gallon of gas,” AAA says. Especially when going down to the beaches, don’t excessively speed, or else your trip to the gas station will come sooner than expected.
- Don’t sit in your car. It’s easy to take a handful of minutes after or before your drive, or to sit in the drive-thru lane with your car’s engine running. But AAA recommends against those things, as sitting idle for more than 10 seconds will use more gas than simply turning your car off and restarting it.
Reporting from Medora Lee, USA TODAY, contributed to this story.
Contact Konner Metz at kmetz@gannett.com and follow him on Twitter @konner_metz.
