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AAA Mid-Atlantic: National Average Remains Above $2

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While the national average has dropped since the beginning of the week, regional gas prices have been yo-yoing as stations receive summer-blend gasoline. Sunday’s national average price of $2.04 per gallon represents an increase of two cents on the week and 20 cents on the month. Pump prices continue to reflect year-over-year discounts, and drivers are saving 36 cents per gallon versus this same date last year.

Summer-blend gasoline has begun to make its way to fuel terminals in many parts of the country, though it can take a few weeks because fuel travels through pipelines at four miles per hour. Continued refinery maintenance and rising demand may also lead to higher prices in some areas.

CURRENT AND PAST GAS PRICE AVERAGES

Regular Unleaded Gasoline (*indicates record high)

4/10/16

Week Ago

4/3/16

Year Ago

4/10/15

National

$2.04

$2.06

$2.40

Pennsylvania

$2.20

$2.19

$2.54

Philadelphia
(5-county)

$2.21

$2.18

$2.54

South Jersey

$1.84

$1.81

$2.14

Wilkes-Barre

$2.19

$2.20

$2.50

Delaware

$1.93

$1.96

$2.37

Crude Oil

$39.72
per barrel
(Friday 4/8/16 close)

$36.79
per barrel
(Friday 4/1/16 close)

$59.48
per barrel
(4/10/16)

WTI closed out Friday’s formal trading session on the NYMEX up $2.93 and settled at $39.72 per barrel. The EIA (U.S. Energy Information Administration) reported that the U.S. crude oil inventory fell for the first time in the last eight weeks by 4.9 million barrels for the week ending April 1, 2016, compared to the previous week. U.S. crude oil production fell for the tenth consecutive week for the week ending April 1, 2016 and is at the lowest level since November 14, 2014.

 

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