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Gas prices holding steady in Cumberland

July 22nd, 2017 by WCBC Radio

Gas prices nationwide and across most of Maryland began inching upward this week after stalling the week prior. Prices in many areas of Maryland, and across the country, are reacting to rising crude oil prices and increased seasonal demand. Western Maryland appears to be the exception, as Hagerstown and Cumberland average prices remain unchanged from last week. In fact, compared to last month’s prices, Hagerstown’s average cost is unchanged, while Cumberland’s average is seven cents less.

 

At $2.28 per gallon, the national gas price average is two cents higher than a week ago, and nine cents per gallon more than last year. The nationwide average price remains unchanged from a month ago.

Maryland’s average cost at the pump continues to trend lower than the national average. At $2.26 per gallon, the state average is two cents lower than the nationwide price.  Maryland’s cost reflects a two cents increase from a week ago and a 10 cents rise compared to last year’s price.  Maryland’s price is unchanged compared to last month, following the nationwide trend.

For more information or to schedule an interview, please contact Ragina Cooper Averella at 443.465.5020 or Christine Delise at 443.244.7253.  Thank you for the consideration.

                                     

 

AAA Mid-Atlantic Weekend Gas Watch

AAA Mid-Atlantic: Pump Prices Movin’ On Up

Rising Oil Costs And Strong Gasoline Demand Have Gas Prices Across Most Of Maryland Inching Upward,

With Exception Of Western Maryland

The Week

Gas prices nationwide and across most of Maryland began inching upward this week after stalling the week prior. Prices in many areas of Maryland, and across the country, are reacting to rising crude oil prices and increased seasonal demand. At $2.28 per gallon, the national gas price average is two cents higher than a week ago, and nine cents per gallon more than last year. The nationwide average price remains unchanged from a month ago.

Maryland’s average cost at the pump continues to trend lower than the national average. At $2.26 per gallon, the state average is two cents lower than the nationwide price.  Maryland’s cost reflects a two cents increase from a week ago and a 10 cents rise compared to last year’s price.  Maryland’s price is unchanged compared to last month, following the nationwide trend.

Western Maryland appears to be the exception to rising prices across most of Maryland, as Hagerstown and Cumberland average prices remain unchanged from last week. In fact, compared to last month’s prices, Hagerstown’s average cost is unchanged, while Cumberland’s average is seven cents less.

For the sixth consecutive trading day, the price of West Texas Intermediate (WTI) crude oil settled above $46 per barrel, closing at $46.79 on Thursday. Since mid-June through mid-July the commodity had been primarily settling in the $44 to $45 per barrel range. Oil’s recent slight gain could be a sign that the oil surplus is draining, albeit rather slowly. This news seems to have given the market some hope for a decline in the glut of crude that has been suppressing prices this summer. Although the supply of crude has decreased slightly, crude oil stockpiles both around the world and in the U.S. are still high, eating into the effectiveness of the oil production cuts established by OPEC last year.

CURRENT AND PAST GAS PRICE AVERAGES 

Regular Unleaded Gasoline

 

7/21/17

Week Ago

Month Ago

Year Ago

National

$2.28

$2.26

$2.28

$2.19

Maryland

$2.26

$2.24

$2.26

$2.16

Baltimore

$2.24

$2.21

$2.31

$2.13

Cumberland

$2.34

$2.34

$2.41

$2.31

Hagerstown

$2.30

$2.30

$2.30

$2.20

Salisbury

$2.19

$2.15

$2.08

$1.95

Washington Suburbs (MD only)

$2.29

$2.27

$2.31

$2.23

 

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November 5th, 2016 by WCBC Radio

Drivers in Maryland and across the Mid-Atlantic region are hoping not to have a repeat of what happened a little more than a month ago, as gas prices in many areas went up following a pipeline break in late September.  Some regions of Maryland, particularly Baltimore and Salisbury, experienced significant price increases as a result of the previous pipeline shutdown due to supply issues for retailers, particularly with unbranded retailers bearing the brunt of low supply. Other parts of the state, such as Western Maryland, fared better as prices at the pump remained relatively stable during this previous shutdown.

Currently, Maryland’s average continues to trend downward, dropping a penny from last week to $2.21 per gallon.  The state average is three cents lower than last week but remains higher than last year’s price on this date by six cents.  Surveyed metro areas across the state are flat or trending lower than last week with the exception of Hagerstown, rising two cents per gallon compared to last week and Salisbury, which is experiencing the largest weekly increase of four cents.

Today’s national average price for regular unleaded gasoline is $2.22 per gallon, which is the same price as one week ago, one cent less than one month ago, but two cents more last year on this date.

At the close of Thursday’s formal trading session on the NYMEX, West Texas Intermediate (WTI) closed down $5.06 from last week to settle at $44.66 per barrel, the lowest price since late September. Any jump in gas prices related to the pipeline disaster may be offset by tumbling crude oil prices, as the global supply glut continues to cause concern. To-date, crude oil has closed below $47 every day this week. 

 

CURRENT AND PAST GAS PRICE AVERAGES 
Regular Unleaded Gasoline

 

11/4/16

Week Ago

Month Ago

Year Ago

National

$2.22

$2.22

$2.23

$2.20

Maryland

$2.21

$2.22

$2.24

$2.15

Baltimore

$2.19

$2.20

$2.24

$2.13

Cumberland

$2.34

$2.34

$2.20

$2.18

Hagerstown

$2.33

$2.31

$2.26

$2.17

Salisbury

$2.13

$2.09

$2.14

$2.08

Washington Suburbs (MD only)

$2.24

$2.26

$2.26

$2.18

 


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