The Week

Though temperatures are falling, prices at the pump are not. Drivers throughout Maryland experienced some pain at the pump this week. Maryland drivers saw a five-cent jump statewide average in the last seven days, but some regions saw no change while others saw a seven-cent increase. Decreased gasoline inventories in the Northeastern region of the country, increased gasoline demand and fluctuating crude oil prices are holding gas prices back from the typical seasonal drop seen in the last few months of the year.

The gas price average in Maryland today is $2.51, which is up five cents in the last week, two cents in the last month, yet is still five cents less from this date last year.

Today’s national gas price average is $2.62, up a penny in the last week, down respectively two cents in the last month and 10 cents from this time last year.

CURRENT AND PAST GAS PRICE AVERAGES 

Regular Unleaded Gasoline

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $57.24 per barrel, $1.04 higher than last Friday’s close. Crude prices bounced around a bit during the week as the market reacted to the news of possible signs of progress in trade talks between the U.S. and China. If a trade deal is reached, it could change the outlook on global energy demand and potentially raise crude prices.

The Weekend

“Reduced gasoline stock levels and unseasonably high demand for gasoline have helped to push local gas price averages higher this week,” says Ragina C. Ali, Manager of Public and Government Affairs for AAA Mid-Atlantic. “Depending on how the market reacts to the progress of the U.S. and China trade talks, drivers could see price fluctuations leading up to the Thanksgiving holiday.”

The Week Ahead

Gas prices have been fluctuating as of late, but are still slightly lower than last year’s prices. The extra savings may give local drivers a little extra money to spend on travel and motivate some to take a holiday road trip. For the majority of Americans, AAA expects gas prices to be fairly similar to last year's Thanksgiving national average of $2.58.

AAA has a variety of resources to help motorists save on fuel:

• Shell Fuel Rewards Program for AAA Members: (https://www.AAA.com/Shell) gives AAA members nationwide a discount on gasoline at Shell stations when they join the Fuel Rewards® program.

• Fuel Price Finder (https://www.AAA.com/fuelfinder) locates the lowest fuel price in your area. 

• AAA Gas Cost Calculator (https://gasprices.aaa.com/aaa-gas-cost-calculator/) helps budget travel expenses. 

• TripTik Mobile (https://www.aaa.com/mobile) plots fuel prices along your travel route. 

• AAA's Member Rewards Visa® Credit Card (https://www.AAA.com/financial/AAAvisa.htm) accumulates double points on fuel purchases. 

AAA is the most comprehensive resource for gas prices. AAA reports reflect actual prices from credit card transactions at more than 100,000 gas stations in the U.S.

Next Weekend Gas Watch: Friday, November 15, 2019

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AAA provides automotive, travel and insurance services to over 60 million members nationwide and more than 986,000 members in Maryland.  AAA advocates for the safety and mobility of its members and has been committed to outstanding road service for more than 100 years.  The not-for-profit, fully tax-paying member organization works on behalf of motorists, who can now map a route, find local gas prices, discover discounts, book a hotel and track their roadside assistance service with the AAA Mobile app for iPhone, iPad and Android.  For more information, visit AAA.com.