GasBuddy weekly gas price update, outlook

GasBuddyGasoline prices in Virginia have fallen 1.7 cents per gallon in the past week, averaging $2.63/g yesterday, according to the GasBuddy daily survey of 4,081 stations in Virginia. This compares with the national average that has fallen 1.1 cents per gallon versus last week to $2.85/g, according to GasBuddy.

Average gasoline prices on August 13 in Virginia have ranged widely over the last five years:
$2.16/g in 2017, $1.91/g in 2016, $2.36/g in 2015, $3.25/g in 2014 and $3.38/g in 2013.

Including the change locally during the past week, prices yesterday were 46.4 cents per gallon higher than a year ago and are 1.2 cents per gallon lower than a month ago. The national average has dropped 3.6 cents per gallon during the last month and stands 50.3 cents per gallon higher than a year ago.

Areas near Virginia and their current gas price climate:
Roanoke- $2.54/g, unchanged  from last week’s $2.54/g.
Richmond- $2.58/g, down 1.6 cents per gallon from last week’s $2.59/g.
West Virginia- $2.84/g, down 1 cent per gallon from last week’s $2.85/g.

“Yet again, average gas prices have remained fairly quiet. This summer has been remarkably mum at pumps with most states seeing prices move in an uncharacteristically small summer range of 10-20 cents per gallon or less,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Oil prices continue to be range bound between $67 and around $73 per barrel as of late as competing factors weigh on oil prices at very similar times. Oil inventories have continued to decline, but gasoline inventories remain healthy, and with summer drawing to a close and gasoline demand set to step down, we may see additional relief coming barring any disruptions to the flow of oil or gasoline like a major hurricane. ”

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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