Gas prices down again: But decrease slowing
Gas prices have fallen 3.0 cents per gallon in Virginia in the past week, averaging $1.83 per gallon today, with a low of 99 cents a gallon, according to GasBuddy.
The national average today is $1.91 a gallon, down 5.7 cents a gallon from a week ago.
Prices should continue to drop as demand remains constrained due to the slowdown in activity key to the COVID-19 response, according to Patrick DeHaan, head of petroleum analysis for GasBuddy.
“Do keep an eye on this week’s potential meeting between major oil producers Russia and Saudi Arabia, however,” DeHaan said. “On hopes of a production cut, oil rallied nearly $7 per barrel last week, but tomorrow’s meeting was postponed. If there is an oil production cut, it may establish a floor to oil prices, but motorists need not worry. If there is a cut, it is highly unlikely to cause a surge in gas prices, as retail prices have not come close to matching the declines in wholesale prices to this point.”
Historical gasoline prices in Virginia and the national average going back ten years:
- April 6, 2019: $2.52/g (U.S. Average: $2.75/g)
- April 6, 2018: $2.47/g (U.S. Average: $2.66/g)
- April 6, 2017: $2.18/g (U.S. Average: $2.39/g)
- April 6, 2016: $1.90/g (U.S. Average: $2.05/g)
- April 6, 2015: $2.19/g (U.S. Average: $2.39/g)
- April 6, 2014: $3.43/g (U.S. Average: $3.58/g)
- April 6, 2013: $3.52/g (U.S. Average: $3.61/g)
- April 6, 2012: $3.93/g (U.S. Average: $3.93/g)
- April 6, 2011: $3.62/g (U.S. Average: $3.71/g)
- April 6, 2010: $2.74/g (U.S. Average: $2.81/g)
Neighboring areas and their current gas prices:
- Roanoke- $1.68/g, down 4.8 cents per gallon from last week’s $1.73/g.
- Richmond- $1.77/g, down 3.6 cents per gallon from last week’s $1.80/g.
- West Virginia- $1.88/g, down 4.9 cents per gallon from last week’s $1.92/g.