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Gas prices drop a nickel over the past week: What’s the short-term trend?

Chris Graham
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Gas prices are down nearly a nickel from last week, and it’s looking like things should be on a downward trend at least through early next month.

“With GasBuddy data showing gasoline demand plummeting after Memorial Day, and refiners inputting the largest amount of oil into their facilities in years, it’s very likely we’ll continue to see gas prices fall as we approach July 4. Diesel prices also continue to decline to their lowest level in nearly 11 months. The future looks bright for falling fuel prices across the board, though we’ll have to keep our eyes on hurricane season,” said Patrick De Haan, head of petroleum analysis at GasBuddy.

Average gasoline prices in Virginia have fallen 4.5 cents per gallon in the last week, averaging $3.42/g today, according to GasBuddy’s survey of 4,081 stations in Virginia.

The national average price of gasoline has fallen 5.8 cents per gallon in the last week, averaging $3.50/g today.

The national average price of diesel has fallen 1.8 cents in the last week and stands at $3.82 per gallon.

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, and Team of Destiny: Inside Virginia Basketball’s Run to the 2019 National Championship, and The Worst Wrestling Pay-Per-View Ever, published in 2018. For his commentaries on news, sports and politics, go to his YouTube page, or subscribe to his Street Knowledge podcast. Email Chris at [email protected].