first bank  

Gas prices continue to hold steady with arrival of summer

gas prices
(© pathdoc – stock.adobe.com)

Virginia gas prices are unchanged in the past week, averaging $2.93/gallon today, according to GasBuddy’s daily survey of 4,081 stations in Virginia.

Gas prices in Virginia are 2.2 cents per gallon lower than a month ago and stand 99.1 cents per gallon higher than a year ago.

The national average price of gasoline has fallen 2.1 cents per gallon in the last week, averaging $3.05/g today. The national average is up 2.0 cents per gallon from a month ago and stands 93.5 cents per gallon higher than a year ago.

Analysis

“The ferocious rise in gas prices has finally started to cool as gas prices have eased across a majority of the country for the first time in months,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “There have been some challenges in pockets across the country as demand remains very healthy, and stations in some areas where demand is very high struggle to keep up with demand thanks to the truck driver shortage.”

Future outlook

“As we head toward the July 4 holiday, I’m optimistic that we’ll continue to see prices slowly drift lower before possibly rising in later July or August should we see any disruptions from hurricane season. But for now it seems most Americans are simply happy to be getting outside and back to some sense of normal,” De Haan said.

Trends

Historical gasoline prices in Virginia and the national average going back ten years:

  • June 21, 2020: $1.94/g (U.S. Average: $2.12/g)
  • June 21, 2019: $2.41/g (U.S. Average: $2.65/g)
  • June 21, 2018: $2.64/g (U.S. Average: $2.86/g)
  • June 21, 2017: $2.08/g (U.S. Average: $2.28/g)
  • June 21, 2016: $2.15/g (U.S. Average: $2.32/g)
  • June 21, 2015: $2.59/g (U.S. Average: $2.80/g)
  • June 21, 2014: $3.48/g (U.S. Average: $3.68/g)
  • June 21, 2013: $3.42/g (U.S. Average: $3.59/g)
  • June 21, 2012: $3.25/g (U.S. Average: $3.46/g)
  • June 21, 2011: $3.53/g (U.S. Average: $3.63/g)

Neighboring areas and their current gas prices:

  • Roanoke- $2.85/g, down 2.3 cents per gallon from last week’s $2.87/g.
  • Richmond- $2.93/g, unchanged  from last week’s $2.93/g.
  • West Virginia- $2.97/g, down 1.2 cents per gallon from last week’s $2.98/g.

GasBuddy data is accessible at FuelInsights.GasBuddy.com.


Augusta Health Augusta Free Press Kris McMackin CPA
augusta free press news
Augusta Free Press