Gas prices continue to tumble

Gas prices continue to tumble in Virginia and across the country.  Motorists in the Commonwealth are paying $2.81 per gallon on average today, as compared to this year’s peak in April at $3.52 per gallon.  This savings alone represents over $10 ($10.65) per fill up.  When compared to the highest gas prices in the Commonwealth experienced in 2008 ($4.01 per gallon), motorists are saving on average nearly $1600 per year in fuel costs.

AAA Mid-Atlantic calculates the cost of fuel by including statistics provided by the Federal Highway Admiration such as the average number of miles traveled per vehicle, average fuel consumption per vehicle and the average number of vehicles per household.  At the peak of gas prices in 2008, the projected annual average family fuel expense was $5,334.  When those same statistics were calculated at today’s average price per gallon of $2.81, that figure dramatically dropped to $3,738, saving motorists $1,596 per year.

 

	Today	Change SinceYesterday	Last Month	Last Year
National	$3.03	Down 1 cent	$3.34	$3.29
Virginia	$2.81	Down 1 cent	$3.13	$3.14
Charlottesville	$2.88	Down 1 cent	$3.08	$3.07
Norfolk Area	$2.85	Down 1 cent	$3.17	$3.14
Richmond	$2.70	Down 1 cent	$3.07	$3.08
Roanoke	$2.79	Down 1 cent	$3.07	$3.04

 

“Motorists in Virginia have been given an early holiday bonus this year with gas prices at the lowest level since 2010,” said Martha Mitchell Meade, AAA Mid-Atlantic’s Manager of Public and Government Affairs.  “Gas prices are expected to continue to drop throughout the end of October and quite possibly through the end of the year barring any unforeseen circumstances that could impact supplies.”