Delaware State News
DOVER — As crude-oil prices plunge, the average cost per gallon of gasoline in Delaware has been steadily decreasing and is close to $2.
On Thursday in Milford, it even dipped below that figure.
"I would have never thought that gas would get this low again when it was up to $4," said Camden resident Melissa Allen as she fueled her car at the Smyrna Wawa on Wednesday, where regular unleaded gas was selling for $2.08 a gallon.
Gas prices in Delaware have dropped about $1.05 over the past month.
The question that remains is will the average Delaware gas price go below $2?
"There’s no way to say for sure, but it’s certainly a distinct possibility," said Catherine Rossi, spokeswoman for AAA Mid-Atlantic.
Five gas stations in Milford reportedly offered gas below $2 on Thursday, with some stations selling gas for as little as $1.94 per gallon.
The last time the average price per gallon of gasoline in Delaware was below $2 was March 18, 2005, when the state’s average was $1.99.
As of Thursday, Delaware’s average was $2.23 per gallon.
Ms. Rossi said if gas prices continue to tumble, Delawareans could see it below $2 a gallon sometime between Thanksgiving and Christmas.
"This at the moment bodes very well for the holiday season," Ms. Rossi said, adding that lower fuel prices will free up money for people to spend on holiday expenses.
However, the price paid at the pump all depends on how much a barrel of crude oil costs.
Oil prices have fallen by about 55 percent since peaking at $147.27 a barrel in mid-July.
On Wednesday, the price of crude on the international spot market dipped to $68.55 before settling up at $70.53.
Since Delaware gas prices set an all-time high of $4.07 on June 18, most drivers have been cutting back on their driving.
Contractor Mike Otto, of Elkton, Md., works in Delaware and drives a Ford F-150 pickup truck for his job.
"I don’t drive this thing as much as I used to," Mr. Otto said, adding that when he is home he drives a smaller car and reserves his truck for work only.
"I was spending $80 or $90 to fill up my truck, but now it just filled up for $42," said Mr. Otto, who was fueling his truck at the Smyrna Wawa Wednesday.
Although lower gas prices offer much needed relief, Mr. Otto said he will still try his best to conserve gasoline.
"I learned my lesson," he said.
Ms. Allen, however, had a different point of view.
"I’m not conserving gas anymore like I was," she said, adding that she was happy the gas prices are going so low.
Ms. Rossi said that part of the reason gas prices are decreasing is that demand for gasoline is down.
"Reports show gas demand is down 3.5 percent and the number of miles driven by U.S. vehicles fell sharply," Ms. Rossi said.
She said people are driving less and, despite today’s low gas prices, consumers aren’t convinced the lower prices are here to stay.
"People don’t know what to expect next," Ms. Rossi said.
The Organization of Petroleum Exporting Countries said last month it would cut output quotas by 1.5 million barrels a day in addition to a 520,000-barrel cut announced earlier. Venezuelan Oil Minister Rafael Ramirez has said OPEC, which controls about 40 percent of world crude-oil production, may slash production by at least 1 million barrels daily when it meets next in December.
Although the threat of higher crude-oil costs is looming, Delawareans can rest assured that for now, gas prices will remain at this level.
"The price of gasoline steadily continues to decline," Ms. Rossi said.
