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Gas prices down a nickel nationally: Average closing in on recent low-water mark

Chris Graham
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(© Daniel Thornberg – stock.adobe.com)

The average national gas price was down 4.7 cents per gallon in the past week, averaging $3.72 per gallon on Monday, according to GasBuddy.

Virginia was down 1.3 cents per gallon, to $3.49 per gallon.

The cheapest station in Virginia was at $2.98 per gallon on Sunday, so the trend is looking good for consumers.

GasBuddy data is compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Patrick De Haan, head of petroleum analysis at GasBuddy, said the national average drop is due to big price drops in the western U.S.

“The national average is closing in on the previous low from September, which was interrupted when refinery issues caused prices to skyrocket in the West and Great Lakes. With those issues addressed, the West has seen prices plummet, including a nearly 90 cent per gallon decline in California in less than a month,” De Haan said.

“Compare that to the Northeast, where prices have jumped some 10-25 cents per gallon, demonstrating there’s much regionality to current gasoline price trends. Add in diesel prices that remain high amidst extremely tight supply, and there’s definitely some challenges that lie ahead,” De Haan said.

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Chris Graham

Chris Graham

Chris Graham is the founder and editor of Augusta Free Press. A 1994 alum of the University of Virginia, Chris is the author and co-author of seven books, including Poverty of Imagination, a memoir published in 2019. For his commentaries on news, sports and politics, go to his YouTube page, TikTok, BlueSky, or subscribe to Substack or his Street Knowledge podcast. Email Chris at [email protected].

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