Overview
The nationwide price of gas dropped by 23-cents a gallon from Sunday to Friday and by week’s end, three states had reached a statewide average below $3.00 a gallon (Oklahoma at $2.92, Kansas at $2.97, Missouri at $2.99).
Price of Crude Oil
Friday saw incredible selling on world oil markets. The price of crude oil, the single biggest component in gasoline, appeared to be in a freefall Friday, closing the week at $77.70 a barrel. The current economic slowdown continues to prompt a decline in U.S. oil demand, putting downward pressure on gas prices. The U.S. dollar gained strength this week as Europe’s banking sector dealt with its own lending crisis. This is significant since crude is traded in dollars. A stronger dollar bodes well for lower prices at the pump
Supply
Gasoline inventories are improving, helped by lower demand. Prices disparities continued this week in areas of the Southeast U.S. affected by post-hurricane supply issues. Inventories of gas in the Southeast should improve. Some retailers there were limiting consumer purchases to no more than 10 gallons of gasoline, creating anxiety and inconvenience for motorists.
Demand
Demand for oil and gasoline continues to fall both in the United States and in Europe. U.S. motorists are still driving less with each passing month. Weakening demand for fuel serves as a catalyst for lower prices.
“AAA expects gas prices to fall faster and further in the days ahead,” said Catherine L. Rossi, Manager, Public and Government Affairs, AAA Mid-Atlantic. “As the price of crude oil tumbles - so should prices at the pump. AAA expects the nationwide price of gas will probably average $3.00 a gallon before Thanksgiving. Motorists should be pleased to finally see prices dropping at the pump, when the overall financial picture is so unpredictable.”
CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline (*indicates record high)
| 10/12/08 | Week Ago | Year Ago |
National | $3.25 | $3.52 | $2.76 |
Pennsylvania | $3.21 | $3.45 | $2.77 |
Philadelphia (5-county) | $3.21 | $3.44 | $2.73 |
South Jersey | $2.95 | $3.17 | $2.50 |
Wilkes-Barre | $3.24 | $3.46 | $2.78 |
Delaware | $3.08 | $3.32 | $2.60 |
Crude Oil | $77.70/ barrel (close on Friday) | $93.88/ barrel | $83/barrel |
DOVER, Del. – The Delaware Energy Office has announced a statewide initiative that begins Oct. 1 to encourage Delawareans to recycle used, unbroken compact fluorescent light (CFL) bulbs by taking them to a drop-off location for disposal. The recycling initiative is being kicked off in October – National Energy Awareness month – as a way to engage citizens in an environmentally-conscious activity that will help protect the environment.
“Compact fluorescent light bulbs are an extremely energy-efficient and cost effective lighting option,” said Kevin Yingling, Delaware Energy Office program coordinator. “However, CFL bulbs contain a small amount of mercury, so recycling them is the best way to maximize safety and protect the environment.”
Mercury is an essential part of CFLs; it allows the bulb to be an efficient light source. A CFL bulb contains an average of 4 milligrams of mercury – about the amount that would cover the tip of a ballpoint pen. By contrast, an old thermometer contains about 500 milligrams of mercury – the amount equal to the mercury in 125 CFL bulbs. No mercury is released by the bulbs, when handled property and unbroken. However, if broken and discarded in a landfill, CFL bulbs can release mercury into the environment.
Citizens are encouraged to place used, unbroken CFLs in a plastic sandwich bag and bring them to a drop off location. The bulbs will be packaged and transported to a licensed recycling center where the mercury will be reclaimed and the glass and metal will be recycled.
The following locations will accept CFL bulbs beginning Oct. 1:
New Castle County
City of New Castle
Municipal Services Commission
216 Chestnut Street
New Castle, Del. 19720
Hours: 7:30 a.m. – 4 p.m.; Monday through Friday
City of Newark
Municipal Building
220 Elkton Road
Newark, Del. 19711
Hours: 8:30 a.m. – 5 p.m.; Monday through Friday
Kent County
Delaware Energy Office
1203 College Park Drive, Suite 101
Dover, Del. 19904
Hours: 8 a.m. – 4:30 p.m.; Monday through Friday
DNREC, Richardson & Robbins Building
Fish and Wildlife Licensing Desk
89 Kings Highway
Dover, Del. 19904
Hours: 8 a.m. – 4:30 p.m.; Monday through Friday
Sussex County
Delaware Electric Cooperative
14198 Sussex Highway
Greenwood, Del. 19950
Hours: 8 a.m. – 4:30 p.m.; Monday through Friday
City of Seaford
414 High Street
Seaford, Del. 19973
Hours: 8 a.m. – 5 p.m.; Monday through Friday
Lewes Board of Public Works
114 W. Third Street
Lewes, Del. 19958
Hours: 9 a.m. – 4 p.m.; Monday through Friday
In addition, the Delaware Solid Waste Authority holds household hazardous waste collection days at locations throughout the state, click HERE for more information.
Fluorescent bulbs use 66 percent less energy than a standard incandescent bulb. If every home in America replaced just one incandescent light bulb with a CFL bulb, enough energy would be saved to light more than three million homes and prevent greenhouse gas emissions equivalent to those of more than 800,000 cars annually. Replacing a 60 watt standard bulb with a 13 watt fluorescent bulb will save at least $24 in energy costs over the life of the bulb and last up to ten times longer.
In 2006, the Delaware Energy Office gave away more than 140,000 CFL bulbs as part of the kick-off of the Delaware Energy An$wers Program. The free light bulb campaign, “Flip the Switch, Delaware…and Save!” was a partnership between the Delaware Division of Libraries and DNREC’s Delaware Energy Office to distribute the bulbs throughout the state.
For a fact sheet on compact fluorescent bulbs and mercury, click HERE.
For more information contact the Delaware Energy Office at 302-735-3480 or
click HERE.
© 2008