Gas prices down again this week: Increases coming soon?

Virginia gas prices have fallen 1.2 cents per gallon in the past week, averaging $2.09/g today, according to GasBuddy’s daily survey of 4,081 stations.

Gas prices in Virginia are 4.0 cents per gallon higher than a month ago and stand 30.7 cents per gallon lower than a year ago.

The national average price of gasoline has fallen 0.5 cents per gallon in the last week, averaging $2.16/g today. The national average is down 1.7 cents per gallon from a month ago and stands 49.7 cents per gallon lower than a year ago.

Analysis

“Gas prices have tip-toed lower with seasonal factors the primary driver, though with hurricane season continuing to be very active, sporadic shutdowns of oil rigs in the Gulf is leading to volatility in the price of oil, which may become a factor in the weeks ahead,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “With oil’s rally back to $41 per barrel last week, the downturn in the national average may be put on pause for a couple of weeks, but we remain very likely to eventually continue to downward momentum into the heart of autumn. For now, we remain at the lowest prices seasonally since 2004 in most states, and largely, motorists can expect that to continue.”

Trends

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

• September 21, 2019: $2.40/g (U.S. Average: $2.66/g)
• September 21, 2018: $2.62/g (U.S. Average: $2.85/g)
• September 21, 2017: $2.48/g (U.S. Average: $2.57/g)
• September 21, 2016: $2.10/g (U.S. Average: $2.21/g)
• September 21, 2015: $2.03/g (U.S. Average: $2.29/g)
• September 21, 2014: $3.12/g (U.S. Average: $3.33/g)
• September 21, 2013: $3.24/g (U.S. Average: $3.47/g)
• September 21, 2012: $3.69/g (U.S. Average: $3.83/g)
• September 21, 2011: $3.41/g (U.S. Average: $3.56/g)
• September 21, 2010: $2.56/g (U.S. Average: $2.70/g)

Neighboring areas and their current gas prices:

• Roanoke- $2.02/g, down 0.6 cents per gallon from last week’s $2.03/g.
• Richmond- $2.09/g, down 1.9 cents per gallon from last week’s $2.11/g.
• West Virginia- $2.18/g, unchanged  from last week’s $2.18/g.

More online

GasBuddy data is accessible at FuelInsights.GasBuddy.com.