Gas prices across the Mid-Atlantic region stayed relatively static this week, in some areas rising or falling by a penny or so, according to the American Automobile Association's Mid-Atlantic affiliate.

Gas prices across the Mid-Atlantic region stayed relatively static this week, in some areas rising or falling by a penny or so, according to the American Automobile Association's Mid-Atlantic affiliate.

Monday’s national average of $2.37 per gallon was the most expensive average since June 2016 but has dropped three cents since then.

The national average today, Jan. 15, at $2.34 is three cents lower per gallon on the week, 11 cents higher on the month and 41 cents higher than this date last year.

"We are seeing a stabilization of gas prices across the Mid-Atlantic region," said Jana L. Tidwell, Manager of Public and Government Affairs for AAA Mid-Atlantic. "Demand for gasoline has eased following the holiday driving period and the cost of crude has remained relatively flat."

The national average today is $2.34. Last week it was $2.37, and at this time last year it was $1.93, according to AAA Mid-Atlantic.

The Delaware average today is $2.35. Last week it was $2.39, and this time last year it was $1.84.

The Pennsylvania average today is $2.64. Last week it was $2.65, and this time last year it was $2.11.

In southern New Jersey, the average today is $2.39. Last week it was $2.41, and this time last year it was $1.72.

OIL PRICES

At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate (WTI) crude oil closed down $1.62 over last week to settle at $52.37 per barrel.

After settling at its lowest level in a month on Tuesday, crude oil prices saw a 2.5 percent jump on Wednesday, the biggest daily gain in more than a month. The commodity was lifted by a weakened U.S. dollar, according to AAA Mid-Atlantic.


LOOKING AHEAD

The U.S. Energy Information Administration anticipates WTI crude oil will average $52 per barrel in 2017, and as a result gas prices are expected to average $2.31 per gallon in the first quarter of 2017.

U.S. regular gasoline is forecast to average $2.38 per gallon in 2017. Much will depend on OPEC members complying with agreed-upon production cuts, AAA Mid-Atlantic said.