The national average of a gallon of gas is down 4.6 cents per gallon, to $3.13 a gallon, but oil prices are surging with the discord in the Middle East, and that, plus the raging hurricane season, could push prices at the pump back up again.
“Iran’s attack on Israel has at least temporarily caused oil prices to surge to the highest level in months, which could cause the declines to cease for now and could lead to a rise in gas prices for many Americans,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
Gas prices are already up in Virginia over the past week, increasing 3.9 cents per gallon, to $3.04 per gallon, according to GasBuddy’s survey of 4,081 stations in Virginia.
Prices in Virginia are 9.3 cents per gallon lower than a month ago and stand 41.3 cents per gallon lower than a year ago.
The national average price of diesel is unchanged from a week ago and stands at $3.54 per gallon.
The near-term trend includes factoring in the weather.
“Hurricane season remains active, with Hurricane Milton now heading toward a likely landfall in Florida. As a result of potential evacuations, GasBuddy’s Fuel Availability tracker will remain online for areas likely to be affected by Milton,” De Haan said.
“For now, motorists in most areas can expect to see more increases in gas prices primarily due to tensions in the Middle East, but I remain hopeful that a $2.99 national average remains possible this fall,” De Haan said.
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Chris Graham
