Gas prices in Virginia are basically holding steady, as the rest of the country catches up to where we’ve been for a while, heading in the direction of $3 a gallon.
The average across Virginia on Monday is $3.11 a gallon, down a penny from last week. The average across the 50 states is down 5.8 cents, to $3.21 a gallon.
The national average price of diesel has fallen 5.2 cents in the last week and stands at $4.23 per gallon.
The data comes from GasBuddy.
“With the national average price of gasoline declining for the 10th straight week, motorists are enjoying the longest downward trend at the pump since the summer of 2022. The timing couldn’t be better as Americans head into the holidays, leaving them with more in their wallets at a time of year many start to spend on gifts for loved ones,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
There is a seasonal aspect to the decline – basic supply and demand.
“Gasoline demand continues to be dragged lower as Americans stay inside more often, helping to put continued downward pressure on gasoline prices,” De Haan said. “However, we’re carefully monitoring OPEC’s delayed meeting, set to occur this week, for potential surprises that could eventually mean an end to lower gas prices should they make any surprise oil production cuts.”