Christine Delise
Sr. Public Relations Specialist, MD
O: (410) 616-1900 (ext. 4361153)
C: (443) 244-7253
cdelise@aaamidatlantic.com

 AAA Mid-Atlantic Weekend Gas Watch

 

Bleeding Green At The Pump

 

The Week

Consumers accustomed to seeing gas prices dip in January are wondering if, and when, that break will arrive at local gas stations. State and national gas prices continued to climb this week, indicating that 2018 may bring higher gas prices compared to the year prior.

 

Today’s national gas price average is $2.57, which is up three cents in the last week, up 13 cents in the last month and 28 cents higher than this time last year.

 

Maryland’s average is two cents higher than the national average at $2.59 per gallon, which is three cents higher than last week, 16 cents more than last month, and 28 cents higher than last year on this date. 

 

By mid-week, West Texas Intermediate (WTI) crude oil prices rose to levels not seen since December 2014. At the close of NYMEX trading Thursday, the commodity settled at $65.51, the second consecutive day above the $65 per barrel mark and $1.56 per barrel higher than last week’s close.

 

Market observers are looking for indications that growth in the global crude market has slowed, but the U.S. has bucked that trend. In fact, U.S. producers are seizing the higher petroleum prices to grow global market share – evidenced by crude exports increasing. This growth potentially stalls efforts by OPEC and major crude producers to rebalance the market (by cutting production through the end of 2018).


CURRENT AND PAST GAS PRICE AVERAGES 

 

Regular Unleaded Gasoline

 

1/26/18

Week Ago

Month Ago

Year Ago

National

$2.57

$2.54

$2.44

$2.29

Maryland

$2.59

$2.56

$2.43

$2.31

Annapolis

$2.56

$2.55

$2.39

$2.27

Baltimore

$2.58

$2.56

$2.40

$2.28

Cumberland

$2.64

$2.63

$2.56

$2.43

Frederick

$2.58

$2.56

$2.45

$2.27

Hagerstown

$2.66

$2.59

$2.56

$2.35

Salisbury

$2.51

$2.49

$2.30

$2.24

Washington Suburbs

(MD only)

$2.63

$2.61

$2.52

$2.36

Crude Oil

$65.51

per barrel

(Thursday, 1/25/18)

$63.95

per barrel

(Thursday, 1/18/18

$59.97

per barrel

(12/26/17 – market closed 12/25)

$52.75

per barrel

(1/25/17)

 

 

The Weekend

Since 2014, gas prices decreased as much as 20 cents in the first three weeks of the year,” said Ragina Cooper Averella, Manager of Public and Government Affairs for AAA Mid-Atlantic.  “This year, gas prices are eight cents more than they were on New Year’s Day, a possible indication that prices in 2018 will likely be more expensive than last year.”

 

The Week Ahead

Philadelphia Energy Solutions LLC, the U.S. East Coast’s largest refinery operator filed a bankruptcy plan Monday to reorganize its massive debt. Since then, the company has secured funding and assurances in order to ensure normal operations, which likely helped ease some fears about the state of East Coast market supply ahead of the busy spring gasoline season.

 

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

 

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

     

    Next Weekend Gas Watch: Friday, February 2, 2018

       

Follow us on Twitter: @AAAMDNews

Like us on Facebook: AAA Mid-Atlantic News

Mailing Address:
8600 LaSalle Road, Ste 639
Towson, MD 21286

AAA provides automotive, travel and insurance services to 58 million members nationwide and more than 937,000 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.

Related Articles

TEDx Wilmington Salon

Who's in the Driver's Seat? The Transformation of Transportation

On Tuesday, October 17, 2017, AAA and TEDx Wilmington held the first TEDx Salon dedicated to ideas worth spreading in transportation.

This event had:

  • 12 live talks given by 13 speakers
  • 368 people in attendance at the live event
  • More than 7,500 viewed the event online through Livestream, viewing events, and on the AAA Associate network
  • Online viewers came from all 50 states and approximately 30 countries around the world

View a slideshow from the event

This TEDx WilmingtonSalon was organized in partnership with AAA

public affairs

Keeping Member's interests at the forefront

Contacts by region

fuel price finder

Find the lowest gas price in your area

Find prices

gas information

Tools, tips and other resources

learn more

Videos

Local news stories & information

Watch now