Gas Prices Easing Back

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Gas Prices Easing Back

Czedric Datu

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After Saudi Arabia aided in repairing a site hit from a drone attack, Delaware’s gas prices reduced by 9 cents. From the combination of the lower crude oil prices (reduced by $2), as well as the increase of the oil and gasoline supplies, this has helped keep local prices from further rising, reported by Wilmington-based AAA, which is a gasoline, oil, and car supply store.

Delaware’s benefited from the reduction in gas prices; motorists have been filling up a lot on gas before heading out back home. With the reduction of gas prices in Delaware, it’s also benefited the other states, such as New Jersey, where the state has a reduction in gas prices as well. Last year, New Jersey’s gas prices have decreased by 2 cents, now with the help of Saudi Arabia’s repairing of the drone attack. The average price of gasoline decreased by 2 cents by this month, making the price average go from $2.81 a gallon, to $2.77 a gallon.

A spokesman from AAA Northeast, Robert Sinclair Jr, stated that a lot of people starting to drive since the summer started, with over 3.7 million miles driven collectively. He also said that on July 26, 2018, roughly 401 million gallons of gasoline was burned up by drivers per day. But, Sinclair compared it to this year, now being roughly 406 million gallons of gasoline daily, so in other words, the lower the demand the lower the price. 

Sinclair also said, another outlier that could be determining why gasoline prices are lowering, and will continue to lower as the year progresses, is that vehicles are being manufactured to be more fuel-efficient. In other terms, it means that drivers are able to drive the vehicle for longer periods of time without using too much gas, also explaining that they wouldn’t need gas as frequently as a vehicle that isn’t fuel-efficient..

Sinclair believes that the reduction in gas prices will continue, and will especially lower once winter hits, mostly because summer is where gas prices are in higher demand. However, in winter gas prices are not in as high of demand. Sinclair’s claims of the prices lowering more is just speculation, so the states will just have to wait to see what happens.