Gas prices have fallen 5.4 cents per gallon nationally over the past week, averaging $3.86 per gallon on Monday, according to GasBuddy.
This as prices increased 7.1 cents per gallon in Virginia, to $3.56 per gallon.
The reason for the moderation nationally: “we’ve seen an abrupt, yet expected decline as refinery issues have eased in the West and Great Lakes, overpowering some increases elsewhere,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
De Haan sees a continued drop in gas prices on the West Coast because the refinery issues that had been pushing up prices have eased.
“The Great Lakes will see prices drift lower as BP’s Whiting refinery is soon to complete maintenance,” De Haan said.
The pressure upward from OPEC’s decision to cut production has cooled off, which should slow increases across the board, but diesel and heating oil prices are likely to continue to rise, according to De Haan, “as extremely low inventories of middle of the barrel products like these two push prices higher.”
GasBuddy data is accessible at prices.GasBuddy.com.
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Chris Graham
