Gas prices continue tumble: Down 4.5 cents per gallon over past week

Coronavirus fears continue to push fears of an economic slowdown, resulting in lower oil and gas prices.

That’s the behind-the-scenes on why Virginia gas prices have fallen 4.5 cents per gallon in the past week, averaging $2.24/g today, according to GasBuddy’s daily survey of 4,081 stations.

Gas prices in Virginia are 17.3 cents per gallon lower than a month ago and stand 15.0 cents per gallon higher than a year ago.

“All but a handful of states saw their averages decline over the last seven days, leading to plenty of smiling faces, but especially in the 21 states where at least one station is offering gasoline under $2 per gallon,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “It’s impressive that in those 21 states, a total of over 10,000 stations are offering such low prices. With continued worries of economic slowdown due to the spread of coronavirus, I don’t think the impact to oil is done yet, and for now, motorists are poised to see another week of falling gas prices.”

According to GasBuddy price reports, the cheapest station in Virginia is priced at $1.89/g today while the most expensive is $3.19/g, a difference of $1.30/g. The lowest price in the state today is $1.89/g while the highest is $3.19/g, a difference of $1.30/g. The cheapest price in the entire country today stands at $0.59/g while the most expensive is $101.90/g, a difference of $101.31/g.

The national average price of gasoline has fallen 3.5 cents per gallon in the last week, averaging $2.42/g today. The national average is down 16.7 cents per gallon from a month ago and stands 13.9 cents per gallon higher than a year ago.

Historical gasoline prices in Virginia and the national average going back ten years:

• February 10, 2019: $2.09/g (U.S. Average: $2.28/g)
• February 10, 2018: $2.43/g (U.S. Average: $2.58/g)
• February 10, 2017: $2.11/g (U.S. Average: $2.27/g)
• February 10, 2016: $1.60/g (U.S. Average: $1.71/g)
• February 10, 2015: $2.08/g (U.S. Average: $2.18/g)
• February 10, 2014: $3.13/g (U.S. Average: $3.29/g)
• February 10, 2013: $3.46/g (U.S. Average: $3.58/g)
• February 10, 2012: $3.48/g (U.S. Average: $3.50/g)
• February 10, 2011: $3.00/g (U.S. Average: $3.12/g)
• February 10, 2010: $2.55/g (U.S. Average: $2.62/g)

Neighboring areas and their current gas prices:

• Roanoke- $2.22/g, down 5.2 cents per gallon from last week’s $2.28/g.
• Richmond- $2.14/g, down 3.4 cents per gallon from last week’s $2.18/g.
• West Virginia- $2.41/g, down 1.5 cents per gallon from last week’s $2.42/g.

GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. Unlike AAA’s once daily survey covering credit card transactions at 100,000 stations and the Lundberg Survey, updated once every two weeks based on 7,000 gas stations, GasBuddy’s survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data is accessible at http://FuelInsights.GasBuddy.com.