WILMINGTON, Del.- Not since the summer of 2008 have motorists felt such pain at the pump, as gas prices continue their ascent that began two months ago.
The average retail price of a gallon of regular, self-service gasoline in Delaware crossed the $4.00 threshold overnight for the first time since July 19, 2008. The Delaware gas average is up four cents overnight, up 40 cents in the past week, up 63 cents in the past month, and $1.39 higher than one year ago.
The national average retail price for a gallon of regular, self-service gasoline also topped $4.00 per gallon, a benchmark not seen since July 25, 2008.
“The effects of Russia invading Ukraine, coupled with tight worldwide oil supplies and increased demand, continue to impact the upward climb of crude oil and, in turn, gas prices,” said Jana Tidwell, spokesperson for AAA Mid-Atlantic. “Motorists are feeling the pain at the pump and we’re still months away from the start of the peak summer driving season. Although speculation can run awry, economic indicators continue to point to higher crude oil and gasoline prices for the remainder of winter and into spring.”