Maryland Gas Prices Steady As Demand Increases, Stocks Grow, AAA Says
BALTIMORE (WJZ) -- The average price of gas in Maryland is $2.96 Friday, which is down 3 cents from last week, 10 cents in the last month, and up 83 cents from this date last year, according to the AAA Mid-Atlantic Public and Government Affairs Department's Maryland office.
All areas in Maryland except those closest to Washington D.C. are averaging prices of less than $3 a gallon.
AAA cited the increase in total supply, even as gas demand has increased with more people getting on the roads as pandemic restrictions ease, to help limit pump price fluctuations.
Friday's national gas price average is $3.07, unchanged from one week ago, up respectively three cents from one month ago and 96 cents from one year ago.
|
Today
|
Week Ago
|
Month Ago
|
Year Ago
|
|
|
National
|
$3.07
|
$3.07
|
$3.04
|
$2.11
|
|
Maryland
|
$2.96
|
$2.99
|
$3.06
|
$2.13
|
|
Annapolis
|
$2.93
|
$2.95
|
$3.04
|
$2.13
|
|
Baltimore
|
$2.92
|
$2.95
|
$3.04
|
$2.13
|
|
Cumberland
|
$2.97
|
$2.97
|
$2.98
|
$2.08
|
|
Frederick
|
$2.95
|
$2.97
|
$3.01
|
$2.12
|
|
Hagerstown
|
$2.96
|
$2.98
|
$3.03
|
$2.07
|
|
Salisbury
|
$2.92
|
$2.94
|
$2.99
|
$2.11
|
|
Washington Suburbs
(MD only)
|
$3.09
|
$3.10
|
$3.13
|
$2.18
|
|
Crude Oil
|
$71.64
per barrel
(6/18/21)
|
$70.91
per barrel
(6/11/21)
|
$63.58
per barrel
(5/21/21)
|
$39.75
per barrel
(6/19/20)
|
Source: AAA Mid-Atlantic Public and Government Affairs Department's Maryland office
Domestic crude prices could rise, which could affect gas prices this month, said Ragina C. Ali, an AAA Mid-Atlantic spokeswoman. At the close of NYMEX trading Friday, West Texas Intermediate (WTI) crude oil settled at $71.64 per barrel, 73 cents higher than last Friday's close.
The U.S. Federal Reserve indicated this week that interest rates are expected to increase earlier than forecasted, due to rising inflationary pressure, which has put downward pressure on crude prices and limited price increases. However, earlier in the week, crude prices ascended due to optimism that vaccine rollout will continue to help crude demand recover. Additionally, crude prices were bolstered by EIA's latest report revealing that total domestic crude supplies decreased by 7.4 million barrels last week.
AAA lists several resources for saving on fuel, including a fuel finder, a fuel cost calculator and an app that offers gas prices along travel routes.
