GasBuddy weekly gas price outlook

GasBuddyGas prices in Virginia have fallen 4.5 cents per gallon in the past week, averaging $2.66/g yesterday, according to GasBuddy’s daily survey of 4,081 stations in Virginia. This compares with the national average that has fallen 2.4 cents per gallon versus last week to $2.89/g, according to GasBuddy.

Average gasoline prices on June 18 in Virginia have ranged widely over the last five years:
$2.10/g in 2017, $2.17/g in 2016, $2.60/g in 2015, $3.46/g in 2014 and $3.40/g in 2013.

Including the change locally during the past week, prices yesterday were 56.0 cents per gallon higher than a year ago and are 5.2 cents per gallon lower than a month ago. The national average has dropped 3.1 cents per gallon during the last month and stands 60.9 cents per gallon higher than a year ago.

Areas near Virginia and their current gas price climate:
Roanoke- $2.57/g, down 1.5 cents per gallon from last week’s $2.58/g.
Richmond- $2.65/g, down 4.9 cents per gallon from last week’s $2.70/g.
West Virginia- $2.80/g, down 3.1 cents per gallon from last week’s $2.83/g.

“Average gas prices in the U.S. have fallen to their lowest in a month, following oil’s continued slump as OPEC appears poised to adjust oil production levels and the U.S. nears its hitting 11 million barrels of oil pumped per day, the highest level ever,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil bulls may see their day again this summer, but the prospects of higher oil supply have diminished the value of oil for the time being, and that’s leading to what nearly every American has been rooting for as of late- lower gas prices. While many are still bitter over having to pay more than last year, prices certainly could have moved higher if there hadn’t been pressure on OPEC to act now that the (previous) glut of crude oil has been absorbed into the market. We see gas prices falling slightly into late June or early July before odds rise of hurricane season leading to some volatility at the pump, which could lead prices higher short term.”

For LIVE fuel price averages, visit FuelInsights.GasBuddy.com.

About GasBuddy

GasBuddy is the technology company changing the way more than 75 million consumers find, purchase, and save money on gasoline. Founded in 2000, the original GasBuddy website was a pioneer in crowd-sourced information, leveraging technology, big data, and a passionate community that now connects more than 70 million users with real-time, accurate fuel pricing information as well as reliable reviews of gas station amenities and services. The app and website have the most accurate and real-time fuel prices at over 140,000 unique stations in the United States, Canada, and Australia and is the most comprehensive money-saving companion while on the road. GasBuddy is available on all mobile platforms. For more information, visit www.gasbuddy.com.

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