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Gas prices continue march toward $3 per gallon mark: A look at future trends

Chris Graham
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Virginia drivers are still paying less than $3 per gallon, on average, for gas, and the national average continues to drop toward that important psychological mark.

“After a brief hiatus, the national average has moved off its recent high, again falling closer to the $3 per gallon mark, setting up a potential second attempt at slipping below $2.99 for the first time since 2021,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which compiles data from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Average gasoline prices in Virginia have fallen 3.1 cents per gallon in the last week, averaging $2.96/gallon today, according to GasBuddy’s survey of 4,081 stations in Virginia.

Prices in Virginia are 14.8 cents per gallon lower than a month ago and stand 12.7 cents per gallon lower than a year ago.

The national average price of gasoline has fallen 1.6 cents per gallon in the last week, averaging $3.06/gallon today.

The national average is down 17.3 cents per gallon from a month ago and stands 12.6 cents per gallon lower than a year ago.

The national average price of diesel has fallen 4.5 cents in the last week and stands at $3.96 per gallon.

The trend is for continued price decreases, according to De Haan.

“While gas prices have risen in some areas, such as California after refinery snags emerged, other states have returned to declines. Illinois is one such example, falling below $3 per gallon for the first time since 2021,” De Haan said. “The Great Lakes and Gulf Coast offer some of the nation’s lowest gas prices, with the window of opportunity holding for the next few weeks to potentially re-test some of the levels seen a few weeks ago. The good news continues for average diesel prices, which slipped below $4 per gallon again and stand at their lowest level since the summer.”

Chris Graham

Chris Graham

Chris Graham is the founder and editor of Augusta Free Press. A 1994 alum of the University of Virginia, Chris is the author and co-author of seven books, including Poverty of Imagination, a memoir published in 2019, and Team of Destiny: Inside Virginia Basketball’s Run to the 2019 National Championship, and The Worst Wrestling Pay-Per-View Ever, published in 2018. For his commentaries on news, sports and politics, go to his YouTube page, or subscribe to his Street Knowledge podcast. Email Chris at [email protected].