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Gas Prices steady in Cumberland

December 9th, 2017 by WCBC Radio

Motorists nationwide, and across Maryland, continue to see gas prices hold steady or trend downward throughout the week.  However, locally, Hagerstown is the exception, which experienced a seven cents increase compared to last week.  

According to the Energy Information Agency (EIA), U.S. gasoline inventories rose for the fourth straight week pointing to possible low demand at the pump and an increase in gasoline production.

Today’s national gas price average is $2.47 per gallon, which is two cents per gallon lower than one week ago, eight cents lower than one month ago but 27cents higher than this time last year.

In Maryland, the average price for gas is two cents lower than the national average at $2.45 per gallon, which is a penny less than last week, five cents less than last month, and 18 cents higher than last year on this date.  The year-over-year price gap has been narrowing since mid-November when Maryland’s average was as high as 31 cents per gallon versus last year’s prices.

 

 

CURRENT AND PAST GAS PRICE AVERAGES 

Regular Unleaded Gasoline

 

12/8/17

Week Ago

Month Ago

Year Ago

National

$2.47

$2.49

$2.55

$2.20

Maryland

$2.45

$2.46

$2.50

$2.28

Baltimore

$2.41

$2.43

$2.49

$2.28

Cumberland

$2.58

$2.58

$2.55

$2.33

Elkton

$2.35

$2.37

$2.45

$2.21

Hagerstown

$2.62

$2.55

$2.54

$2.30

Salisbury

$2.33

$2.36

$2.45

$2.24

Washington Suburbs

(MD only)

$2.53

$2.55

$2.56

$2.32

 
 

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September 16th, 2017 by WCBC Radio

return to their full operations in the region, prices should continue to decrease. While gas prices quickly shot up by double-digits, price decreases will instead come down gradually. The initial shuttering of refineries created an increase in demand, as concerned motorists headed to the gas stations to fill up their tanks.

Today’s national average price for unleaded gasoline stands at $2.64 per gallon, three cents less than one week ago, 29 cents higher than one month ago and 46 cents higher than one year ago.

Maryland’s average cost at the pump is pricing four cents per gallon more than the national average at $2.68 per gallon. The state’s average reflects a decrease of six cents from a week ago, a 35 cents rise versus last month and a 52 cents increase over last year’s price.

At the close of NYMEX trading Thursday, WTI crude oil settled at $49.89 per barrel, 80 cents higher than the previous week’s closing price. Crude oil prices are nearing post OPEC agreement highs hitting a four-month high on Thursday. According to the Energy Information Administration, gasoline stocks decreased by 8.4 million barrels this week, which is the largest weekly decline since 1990 when data was first recorded.

CURRENT AND PAST GAS PRICE AVERAGES 

Regular Unleaded Gasoline

 

9/15/17

Week Ago

Month Ago

Year Ago

National

$2.64

$2.67

$2.35

$2.18

Maryland

$2.68

$2.74

$2.33

$2.16

Baltimore

$2.66

$2.74

$2.31

$2.14

Cumberland

$2.69

$2.70

$2.37

$2.17

Hagerstown

$2.77

$2.78

$2.34

$2.23

Salisbury

$2.57

$2.67

$2.20

$2.03

Washington Suburbs (MD only)

$2.72

$2.76

$2.36

$2.20

 


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