Ragina C. Ali
Public Relations Manager, MD
O: (410) 616-1900 (ext. 4361152)
C: (443) 465-5020
RAli@aaamidatlantic.com

 

The Week

Maryland drivers have enjoyed a second week of stable or slightly decreased pump prices, as the state average is four cents lower than one week ago. The combination of crude prices remaining lower than last week, as well as the latest data showing an increase in both crude oil and gasoline supplies, has benefitted drivers taking that last summer road trip.

 

Prices in Maryland are down four cents in the last week, 11 cents in the last month and are 23 cents lower than on this date last year.

 

Today’s national gas price average is $2.67, respectively down five cents in the last week, seven cents in the last month and 19 cents from this time last year.


CURRENT AND PAST GAS PRICE AVERAGES 

Regular Unleaded Gasoline

Today

Week Ago

Month Ago

Year Ago

National

$2.67

$2.72

$2.74

$2.86

Maryland

$2.60

$2.64

$2.71

$2.83

Annapolis

$2.54

$2.57

$2.67

$2.79

Baltimore

$2.56

$2.60

$2.68

$2.80

Cumberland

$2.79

$2.84

$2.86

$2.90

Frederick

$2.61

$2.64

$2.68

$2.84

Hagerstown

$2.62

$2.64

$2.63

$2.86

Salisbury

$2.50

$2.51

$2.61

$2.75

Washington Suburbs

(MD only)

$2.74

$2.77

$2.80

$2.92

Crude Oil

$54.50

per barrel

(8/9/19)

$55.66

per barrel

(8/2/19)

$60.21

per barrel

(7/12/19)

$67.63

per barrel

(8/10/18)

 

At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $54.50 per barrel, $1.16 lower than last Friday’s close. According to the Energy Information Administration’s (EIA) report this week, U.S. crude stocks increased by 2.4 million barrels, reversing a seven-week long stretch of declines. Trade tensions between the U.S. and China and fears of a pending global recession have pushed crude prices down, even as the peak driving season continues. Moving forward, some analysts speculate whether the reduced crude prices will result in further production cuts by OPEC.

 

The Weekend

The price of crude oil has dropped $1.16 since last Friday, delivering what drivers hope to be another week of falling gas prices,” says Ragina C. Ali, Manager of Public and Government Affairs for AAA Mid-Atlantic. “Though the rate of decline could slow, the downward trend could continue into early August, saving money for motorists on the last road trips of the summer driving season.”

 

The Week Ahead

According to recent EIA reports, U.S. regular gasoline retail prices averaged $2.74 per gallon in July, up two cents per gallon from June but 11 cents per gallon lower than the average in July of last year. EIA expects that monthly average gasoline prices peaked for the year in May, at an average of $2.86 per gallon, and will fall to an average of $2.64 per gallon in September.

 

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

                   

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, August 16, 2019

 

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Mailing Address:
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Towson, MD 21286

AAA provides automotive, travel and insurance services to over 59 million members nationwide and more than 982,000 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.

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