Gas prices are down, but minimally, nationwide, dropping seven-tenths of a penny per gallon over the past week, to $3.02 per gallon, according to the price-tracking website GasBuddy.
GasBuddy had the average price at the pump for Virginia drivers ticking up 2.4 cents per gallon, to $2.99 per gallon, as of the start of the business day on Monday.
The national average price of diesel declined 0.4 cents in the last week and stands at $3.516 per gallon.
GasBuddy data is compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
Analysis
“Several states saw gas prices jump or ‘cycle’ last week, a behavior in which gas prices climb significantly after falling below a station’s replacement price. This led the national average to see little meaningful change from last week, with many states experiencing a slow decline, offsetting the few states that did see big jumps,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
“However, the good news is that those states that saw large jumps last week will likely see some of the biggest declines at the pump this week, paving the way for the national average to fall, potentially below $3 per gallon, just in time for Thanksgiving, with GasBuddy tracking 28 states already below that level.”
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Chris Graham
