Business & Tech

Have Summer Gas Prices In Maryland Peaked?

Demand is down, prices are up and late summer hurricanes could change everything.

By Bryan P. Sears

Gas prices in Maryland and the Baltimore area have dropped in the last week, but have we seen the worst of it for the summer?

Maybe not, according to Ragina Averella, a spokeswoman for AAA Mid-Atlantic.

Overall, national surveys show that the demand for gas is in decline nationally. The Oil Price Information Service reported that 70 percent of the stations surveyed nationally reported lower demand this week.

But refinery problems, especially those related to late summer hurricanes, could drive prices higher.

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“August is set to be a volatile month for gas prices despite recent price drops,” said Ragina C. Averella, Manager of Public and Government Affairs for AAA Mid-Atlantic. “Summertime demand for gasoline, expensive crude oil prices, and the possibility of refinery glitches or supply disruptions from Gulf Coast hurricanes could push prices higher.”

The average price of gas in Maryland dropped 2 cents from last week to $3.65 per gallon. The average price in the Baltimore area is about $3.64, also a decrease of 2 cents from last week.

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The current price is 15 cents higher than the same time last year. That price includes a nearly 4 cent increase related to the gas tax increase approved by the General Assembly and signed into law by Gov. Martin O’Malley.


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