jump to example.com

AAA: Gas prices inching upward

Mid-Atlantic gas prices began inching upward this week after stalling the week prior.

gas pricesLike the national price for a gallon of regular gasoline, local prices are reacting to rising crude oil prices and increased seasonal demand.  At $2.28, the national gas price average is three cents higher than a week ago, the same price as a month ago and 11 cents more than a year ago. Pump prices could continue to increase into late August, until the switchover to winter-blend gasoline begins.

“Motorists have enjoyed unusually low gas prices so far this summer, with prices cheaper than at the beginning of the year, but that is about to change,” said Tammy Arnette, Senior Pubic Affairs Specialist for Public and Government Affairs for AAA Mid-Atlantic.  “As demand increases between now and Labor Day, we anticipate prices at the pump will spike at least ten cents per gallon.”

At the close of NYMEX trading Friday, WTI crude oil decreased 77 cents on the week to settle at $45.77. Oil’s slight gains during the week could be a sign that the oil surplus is draining, albeit rather slowly. This news seems to have given the market some hope for a decline in the glut of crude that has been suppressing prices this summer. Although the supply of crude has decreased slightly, crude oil stockpiles both around the world and in the U.S. are still high, eating into the effectiveness of the oil production cuts established by OPEC last year.

Recent Posts
Your One-Stop Media Shop
Augusta Free Press LLC provides clients in the Shenandoah Valley and Central Virginia and beyond with marketing and PR solutions including web design, magazine/brochure, TV/radio, social media and overall marketing campaign design and implementation.
  • Web Design

    You want a new website, but don’t have the first clue as to how to build one. That’s our job. We take care of all facets of web design – visual design, layout design and content development. Get your business online for as little as $1,299.
    Learn more about AFP Web Design services.
  • Graphic Design

    The staff at Augusta Free Press Publishing has been recognized by the Virginia Press Association for excellence in layout and design. Whether you need a fresh business card design, rack card, ad, flyer or full magazine design, we can help with all your graphic-design needs.
    Learn more about AFP Graphic Design services.
  • Marketing

    Augusta Free Press manages advertising campaigns for small- and medium-sized businesses across Virginia. You don’t need to hire a full-time marketing coordinator. Bring the experience of the Augusta Free Press team to work for you – for a fraction of the cost.
    Learn more about AFP Marketing services.