Lower price at pump linked to dip in fuel demand, experts say
DELMARVA – You’ve probably noticed the price at the pump slightly coming down this week, so we checked in with AAA Mid-Atlantic to see just how long we can expect to feel that relief.
Thursday in Maryland the average price a gallon $4.68 which is $.11 lower from this time last week.
Triple A tells 47ABC, the drop in price comes as demand went down for fuel within the last two weeks
leading up to the Fourth of July holiday weekend.
They add the dip in demand was a result of prices being so high.
We’re told another factor is the current price in crude oil. “At least earlier this week we were trading for under $100 per barrel for the first time in more than six months,” AAA Mid-Atlantic’s Ragina Ali said.
“We have today seen those prices tick back up a little bit. So the price of crude oil certainly is usually a factor in what we see.”
Ali says they don’t expect demand to be down long though as July typically sees an up tick in travel.
Triple A also tells 47ABC that as of Thursday Salisbury is actually seeing the lowest average in the state at $4.59 a gallon.