AAA says that’s not expect to last long.
Towson, Md (KM) If you’ve noticed the cost of filling up is coming down, it’s not your imagination. AAA Mid-Atlantic says the price of gasoline has been dropping considerably since last week. “Motorists are finally finding relief at the pump,” says spokeswoman Christine Delise. “And this is the relief we typically find in January through early February.”
“We’re also seeing strong gasoline inventories and crude oil inventories which should help keep prices down as we head into the next couple of weeks,” she says.
The auto club says the average price of gasoline in Maryland is $2.56 per gallon, a drop of five-cents from last week. In Frederick, the average price is $2.53 per gallon, a decrease of six-cents from last week.
Delise says the price of crude oil has dropped from last week’s high of $65 per barrel. “The latest Energy Information Administration’s report revealed that US crude production had hit a new record weekly of over 10-million barrels day,” she says. AAA says the price of West Texas Intermediate crude closed on Tuesday at $59.19 per barrel, a decline of 10-cents from the previous day.
But, Delise says, all good things must come to an end, and the price at the pump is expected to go back up later this winter. “Over the next couple of weeks and into the spring, refineries will shutting down their equipment for maintenance, and then they’ll start preparing summer blend gasoline which retailers will have to sell by June 1 in our areas,” she says.
For anyone wanting to find the lowest price for gasoline in their communities can go on line to Fuel Price Finder at AAA.com/fuelfinder. Residents who are traveling out of town can go to the AAA Gas Cost Calculator at GasPrices.AAA.com/AAA-gas-cost-calculator to help plan budget expenses. TripTik Mobile at AAA.com/mobile can plot fuel prices along anyone’s travel route.
By Kevin McManus