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Gas prices drop below $4 per gallon

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Delaware Public Media
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The average of gas prices in Delaware falls below $4 per gallon for the first time since late winter.

After breaking records in Delaware and across the country, gas prices are continuing to fall now, dropping below the $4 per gallon mark for the first time since March 5 in the First State.

On Friday, the average price for regular grade, self-service gasoline in Delaware was at $3.99 per gallon.

That is down 12 cents in the last week, 69 cents from a month ago, and down $1 since hitting the record high of $4.99 in June. Friday’s price is still 94 cents higher than this time last year.

Nationally, the average price of gas is $4.11 per gallon which is 14 cents less in the past week, down 69 cents from a month ago, but is still 92 cents higher than this time last year.

AAA Mid-Atlantic is cautiously optimistic gas prices will continue to fall, especially if the global price of crude oil does not spike, but warn the overall situation is very volatile.

Among the factors determining gas prices are the price of crude oil, refining costs, taxes, supply and demand, international conflict, economic uncertainty, COVID, and the hurricane season.

Delaware joins 20 other states with gas price averages below the $4 per gallon mark as of Friday.

Joe brings over 20 years of experience in news and radio to Delaware Public Media and the All Things Considered host position. He joined DPM in November 2019 as a reporter and fill-in ATC host after six years as a reporter and anchor at commercial radio stations in New Castle and Sussex Counties.