“Everybody wants lower prices:” Local experts weigh in on gas price hike, potential political connection
DELAWARE – If you’ve pulled up to the pump recently, you’ve noticed the lower gas prices didn’t last for long.
The state average in Delaware now $3.87, a $.10 jump just from last week.
AAA Mid-Atlantic says it makes this fall quite unusual. “Typically, this time of year we see gas prices decline because demand drops off as people return to a normal fall schedule,” Public and Government Affairs Delaware Contact Jana Tidwell said.
That price in Delmar sits two cents higher, now at $3.89.
The big question now: what’s causing this increase? Tidwell says many factors contribute to that, with the biggest being crude rising to nearly $90 a barrel. “We’ve seen refineries here along the East Coast preforming regular routine maintenance but when the refineries are shut down it slows the movement of crude oil and gasoline so that can push prices higher,” Tidwell said.
That price hike you see at the at the pump won’t just impact your wallet, and political experts we spoke with say it that increase could be tied to midterm election. “Unfortunately, the current administration’s idea to have a federal Gas Tax holiday didn’t go anywhere in congress. So, there’s been efforts,” DSU Political Science Professor Dr. Sam Hoff said.
“Partisanship should stop at the waters edge. Everybody wants lower prices. We certainly don’t want one party slowing things down to increase prices simply to embarrass the other.”
Dr. Hoff adds that the federal government could take more action to setting energy prices, but that will be a difficult task. “In doing so, we have to look at the global implications of gas prices and we’re not immune to what’s going on around the world,” Dr. Hoff said.
AAA Mid-Atlantic says more price increases could come as a result of tropical storm Nicole, as it could impact the ability to refine and move crude oil and gasoline.
We’re also told that demand is anticipated to go up as we get closer to the Thanksgiving holiday, which will impact prices.
AAA’s holiday travel projects are scheduled to be released next week.
