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GasBuddy: Gas prices in Virginia continue nine-week downward trend

GasBuddyThe COVID-19 lockdown continues to push gas prices downward, with Virginia pumps averaging $1.70 per gallon today, down 2.3 cents per gallon over the past week, according to GasBuddy’s daily survey of 4,081 stations.

Gas prices in Virginia are 19.3 cents per gallon lower than a month ago and stand 94.9 cents per gallon lower than a year ago.

And there is more downward potential, according to Patrick De Haan, head of petroleum analysis at GasBuddy.

“While much of the talk last week was about the West Texas Intermediate benchmark falling to $0 per barrel and then into negative territory, it was very isolated and oil eventually rebounded back to the current $15 per barrel level. As a result, gasoline prices will likely remain subdued until meaningful demand for petroleum returns, and that may not be for weeks or perhaps longer,” De Haan said.

According to GasBuddy price reports, the cheapest station in Virginia is priced at $1.05/g today, while the most expensive is $2.99/g, a difference of $1.94/g. The lowest price in the state today is $1.05/g while the highest is $2.99/g, a difference of $1.94/g.

The national average price of gasoline has fallen 4.4 cents per gallon in the last week, averaging $1.74/g today. The national average is down 25.6 cents per gallon from a month ago and stands 115.1 cents per gallon lower than a year ago.

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

  • April 27, 2019: $2.65/g (U.S. Average: $2.89/g)
  • April 27, 2018: $2.61/g (U.S. Average: $2.80/g)
  • April 27, 2017: $2.21/g (U.S. Average: $2.40/g)
  • April 27, 2016: $1.99/g (U.S. Average: $2.15/g)
  • April 27, 2015: $2.33/g (U.S. Average: $2.54/g)
  • April 27, 2014: $3.52/g (U.S. Average: $3.70/g)
  • April 27, 2013: $3.37/g (U.S. Average: $3.50/g)
  • April 27, 2012: $3.77/g (U.S. Average: $3.82/g)
  • April 27, 2011: $3.80/g (U.S. Average: $3.88/g)
  • April 27, 2010: $2.77/g (U.S. Average: $2.84/g)

Neighboring areas and their current gas prices:

  • Roanoke- $1.55/g, down 1.5 cents per gallon from last week’s $1.57/g.
  • Richmond- $1.69/g, down 2.7 cents per gallon from last week’s $1.72/g.
  • West Virginia- $1.74/g, down 2.1 cents per gallon from last week’s $1.76/g.