Gas prices down 4.2 cents per gallon over past week

Virginia gas prices have fallen 4.2 cents per gallon in the past week, averaging $2.40/g today, according to GasBuddy’s daily survey of 4,081 stations. Gas prices in Virginia are 14.9 cents per gallon lower than a month ago, yet stand 22.3 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Virginia is priced at $2.04/g today while the most expensive is $3.19/g, a difference of $1.15/g. The lowest price in the state today is $2.04/g while the highest is $3.19/g, a difference of $1.15/g. The cheapest price in the entire country today stands at $1.81/g while the most expensive is $5.09/g, a difference of $3.28/g.

The national average price of gasoline has fallen 3.5 cents per gallon in the last week, averaging $2.60/g today. The national average is down 17.0 cents per gallon from a month ago, yet stands 22.2 cents per gallon lower than a year ago.

Historical gasoline prices in Virginia and the national average going back a decade:

• August 19, 2018: $2.62/g (U.S. Average: $2.82/g)
• August 19, 2017: $2.16/g (U.S. Average: $2.32/g)
• August 19, 2016: $1.93/g (U.S. Average: $2.15/g)
• August 19, 2015: $2.34/g (U.S. Average: $2.66/g)
• August 19, 2014: $3.22/g (U.S. Average: $3.44/g)
• August 19, 2013: $3.37/g (U.S. Average: $3.53/g)
• August 19, 2012: $3.58/g (U.S. Average: $3.72/g)
• August 19, 2011: $3.46/g (U.S. Average: $3.58/g)
• August 19, 2010: $2.57/g (U.S. Average: $2.70/g)
• August 19, 2009: $2.50/g (U.S. Average: $2.60/g)

Neighboring areas and their current gas prices:

• Roanoke- $2.38/g, down 2.8 cents per gallon from last week’s $2.41/g.
• Richmond- $2.31/g, down 4.5 cents per gallon from last week’s $2.36/g.
• West Virginia- $2.56/g, down 3.5 cents per gallon from last week’s $2.59/g.

“For a surprising fifth straight week, the national average has declined, ushering in lower gas prices to every state and providing relief to consumers who’ve watched the stock market tank, but of for the same reason oil prices have plunged,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “While gasoline demand remains healthy, continued worry over U.S. and China relations clouds energy markets and has weighed significantly on oil prices. As the summer draws to a close, the declines may slow down as new signs from both the U.S. and China show a less aggressive tone regarding trade, but we’ll have to see if that materializes into something concrete in the weeks ahead. For now I believe we’ll see more moves to the downside for most states as the national average continues to move to fresh summer lows as Labor Day approaches.”

For live fuel price averages, visit http://FuelInsights.GasBuddy.com.