The Week

Drivers in Maryland should not expect a gas price spike following Hurricane Michael’s path of destruction through the southeastern U.S. this week. Currently, the storm has not affected critical Gulf Coast refineries or pipelines that bring gasoline to the Northeast. However, heavy rain, wind, flooding and power outages may cause delivery disruptions to local gas stations in Florida, Mississippi and Alabama in the coming days, affecting gas prices in those areas. 

Today’s national gas price average is $2.91, which is unchanged cents in the last week, up seven cents in the last month, and 43 cents higher than this time last year.

Maryland’s gas average is seven cents less than the national average at $2.84 per gallon, and is the same price as last week and month ago prices.  Today’s average is 44 cents more than the same time last year on this date.

At the close of NYMEX trading yesterday, West Texas Intermediate (WTI) crude oil settled at $70.97 per barrel, down $2.20.  Oil prices took a dip late in the week following reports that crude inventories had risen for the third straight week, up by six million barrels. A report from the Organization of the Petroleum Exporting Countries (OPEC) released Thursday revealed a rise in OPEC and Russian crude-oil production last month, making up for a continuing decline in Iranian output ahead of the implementation of U.S. sanctions on Iran’s oil industry November 4.  

CURRENT AND PAST GAS PRICE AVERAGES 

Regular Unleaded Gasoline

The Weekend

“As the southeastern U.S. recovers from the devastating effects of Hurricane Michael, gas prices across most of the country are expected to remain stable,” said Ragina Cooper Averella, manager of Public and Government Affairs for AAA Mid-Atlantic. “However, prices could increase along the storm’s path as a result of flooding and power outages.”

The Week Ahead

As the remnants of Hurricane Michael move across the eastern coast of the U.S., producers are in the process of checking production platforms in the Gulf of Mexico. The damage assessment will determine when production can resume. Gas prices should not increase over much of the country, but there is a possibility that heavy rain and high winds may cause power outages and road closures which could lead to delivery disruptions to local gas stations in Florida, Alabama and Mississippi.

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

• Fuel Price Finder (AAA.com/fuelfinder) locates the lowest fuel price in your area. 
• AAA Gas Cost Calculator (GasPrices.AAA.com/AAA-gas-cost-calculator/) 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.

   

  Next Weekend Gas Watch: Friday, October 19, 2018

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AAA provides automotive, travel and insurance services to 57 million members nationwide and more than 975,000 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.