GasBuddy Virginia weekly gas price update, outlook

GasBuddyGasoline prices in Virginia have fallen 3.8 cents per gallon in the past week, averaging $2.62/g yesterday, according to the GasBuddy daily survey of 4,081 stations in Virginia. This compares with the national average that has fallen 5.3 cents per gallon versus last week to $2.83/g, according to GasBuddy.

Average gasoline prices on June 25 in Virginia have ranged widely over the last five years:
$2.06/g in 2017, $2.13/g in 2016, $2.59/g in 2015, $3.48/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 14.0 cents per gallon lower than a month ago. The national average has dropped 14.1 cents per gallon during the last month and stands 58.1 cents per gallon higher than a year ago.

Areas near Virginia and their current gas price climate:
Roanoke- $2.50/g, down 6.3 cents per gallon from last week’s $2.56/g.
Richmond- $2.60/g, down 4.4 cents per gallon from last week’s $2.64/g.
West Virginia- $2.76/g, down 3.9 cents per gallon from last week’s $2.80/g.

“The threat of an escalating trade war with China and others took a back seat to one of the most anticipated OPEC meetings last week: OPEC agreed to increase oil production by just 600 thousand barrels a day, well short of expectations amidst a hot global and U.S. economy. Crude oil prices responded by skyrocketing over 5 percent Friday while refined products, including gasoline, rose 2 percent. The worry is the rally may continue into this week as motorists prepare for the upcoming July 4 weekend,” said Patrick DeHaan, head of petroleum analysis at GasBuddy. “The decision may lead to an abrupt end in recent gas price declines, or may slow it down, just as gasoline prices had been catching up to the prior slump in crude oil. I’m optimistic that we can avoid a $3 per gallon national average, but if gas prices were to mirror the gains in oil prices, a 5% gain would theoretically put us back at nearly $2.99 per gallon, not what you like to see any time, much less prior to the summer’s most popular holiday.”

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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