Higher crude oil prices and steadily decreasing gasoline stocks have cost local drivers more money at the pump this week. The gas average in Maryland has increased 28 cents in the last month and drivers should expect more increases in the coming weeks. 

Maryland’s average price today is $2.65 per gallon. The statewide average is one cent higher than last week, 28 cents more than last month, and two cents lower than last year on this date.

Today’s national gas price average is $2.72, which is up three cents in the last week, up 29 cents in the last month, and is six cents more than last year’s price.

CURRENT AND PAST GAS PRICE AVERAGES 

Regular Unleaded Gasoline

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $63.08 per barrel, $2.94 higher than one week ago and the highest price so far for 2019. Prices are being supported by tightening global supplies and U.S. pressure on Iran. Demand for crude is also being watched closely as trade talks between the U.S. and China continue. Increased demand could send prices higher. Political factors in Libya may also come into play in the next few days because its oil production has been turbulent in the last few years and its southern oil fields have frequently gone offline amid fighting among its patchwork of militias and tribal and ethnic groups.

The Weekend

“Hopes for a spring ‘break’ at the pump are coming up empty for local motorists,” says Ragina Cooper Averella, Manager of Public and Government Affairs for AAA Mid-Atlantic. “Gasoline stocks have been steadily decreasing since early February and oil prices have been increasing, causing spikes at the pump that are likely to continue for the coming weeks.”

The Week Ahead

AAA anticipates gas price averages will continue to increase well into spring, just ahead of the summer driving season. While most states will not top their 2018 high price, many have already surpassed last year’s high prices. With more expensive gas prices on the horizon, travelers should plan now for the additional costs.

• Shell Fuel Rewards Program for AAA Members (AAA.com/Shell) gives AAA members nationwide a discount on gasoline at Shell stations when they join the Fuel Rewards® program.
• Fuel Price Finder(AAA.com/fuelfinder) locates the lowest fuel price in your area.
• Fuel Cost Calculator(FuelCostCalculator.AAA.com) helps budget travel expenses.
• TripTik Mobile(AAA.com/mobile) plots fuel prices along your travel route.
• AAA's Member Rewards Visa® Credit Card(AAA.com/financial/AAAvisa.htm) accumulates double points on fuel purchases.