Gas Prices Continued Climbing, But At A Slower Pace

AAA says price at the pump went up one-cent in Maryland from last week.

 

Towson, Md (KM). Gasoline prices are still going up, but not as high as originally projected, according to AAA Mid-Atlantic.

Spokeswoman Christine Delise says the average price in Maryland went up by one-cent from last week to a level of $.2.85 per gallon. And, she says, some areas of the region saw no price increases at all. “It seems it was just a couple of weeks ago, we were seeing prices rise as much as a nickel, eight cents a gallon. But fortunately, we’re not seeing that,” she says.

AAA says last week, the average price in Maryland was $2.84 per gallon, and a year ago, it was $2.24 per gallon.

In Frederick, the average price is also $2.83 per gallon, a one-cent increase from last week.

The national average is $2.88 per gallon, a one-cent increase from last week.

Delise says part of the reason for the slowing down of price increases  is the addition of 961,000 barrels to the gasoline inventory. “We’re seeing very healthy gasoline supplies here in the Mid-Atlantic, northeast region. So that may be helping to stabilize prices throughout our area, including Maryland,” she says.

But crude oil prices still remain above the $70 per barrel mark, says Delise. Last Friday, West Texas Intermediate Crude oil rose by 68-cents to $71.01 per barrel. That’s $25 per barrel more than last year,Delise says. “That continues to keep prices much higher than they were last year at this time,” she says.

While a slow decrease in gasoline prices is good news for drivers, Delise says certain factors could change that over the next few weeks. “Geopolitical issues, any hurricanes that may be on the horizon. All that could have an impact on gas prices heading into the summer,” she says.

For those who are planning a road trip this summer, AAA has ways to help save money on gasoline. Go to AAA.com/fuefinder which locates the lowest gas prices in your community. GasPrices.AAA.com/AAA-gas-cost-calculator/  will  help budget travel expenses. And Trip TIk Mobile at AAA.com/mobile can plot fuel prices along your travel route.

 

By Kevin McManus