GasBuddy Virginia gas price update, outlook

GasBuddyGas prices in Virginia have fallen 0.3 cents per gallon in the past week, averaging $2.08/g yesterday, according to the GasBuddy daily survey of 4,081 stations in Virginia. This compares with the national average that has fallen 0.8 cents per gallon versus last week to $2.25/g, according to GasBuddy.

Average gasoline prices on February 4 in Virginia have ranged widely over the last five years:
$2.45/g in 2018, $2.12/g in 2017, $1.64/g in 2016, $2.00/g in 2015 and $3.15/g in 2014.

Including the change locally during the past week, prices yesterday were 37.0 cents per gallon lower than a year ago and are 1 cent per gallon higher than a month ago. The national average has increased 1.1 cents per gallon during the last month and stands 34.6 cents per gallon lower than a year ago.

Areas near Virginia and their current gas price climate:
Roanoke- $2.00/g, down 2.3 cents per gallon from last week’s $2.02/g.
Richmond- $2.00/g, down 2.2 cents per gallon from last week’s $2.02/g.
West Virginia- $2.23/g, down 2.1 cents per gallon from last week’s $2.25/g.

“While oil prices have risen to their highest in months on the instability in Venezuela’s political situation, gasoline demand has remained weak and supply strong, thus keeping increases firmly in check,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “As the record gasoline supply continues to overshadow markets ahead of the road to summer gasoline, any updrafts at the pump will be small and limited for now, but once the transition begins, the supply overhang will be drawn down in short order as refiners liquidate winter gasoline, ushering in eventually higher prices come late-February and early March.”

For live fuel price averages, visit http://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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