Gas prices fall slightly in Virginia: Back under $2 per gallon

Virginia gas prices have fallen 1.1 cents per gallon in the past week, averaging $1.98/gallon today, according to GasBuddy’s daily survey of 4,081 stations.

After weeks of steady increases, prices have been in a holding pattern of late, reflecting uncertainty in the economic recovery from the spring downturn resulting from the public health response to COVID-19.

“Gas prices have remained in very familiar territory for the sixth straight week as gasoline demand fell slightly last week, keeping oil prices confined as forces prevent it from falling under $39 but also from breaching $42 per barrel. However, as summer begins to fade, demand recovery may be limited, and there’s a possibility we may see more downside potential in the last quarter of the year,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

“Traditionally, gasoline demand weakens into the autumn, and as the coronavirus situation keeps more kids home and more parents from work, we may see a drop in gas prices as we progress through fall. However, since no one can predict when we may rebound from the coronavirus situation, nothing long-term is set in stone, but we are on track for a seventh straight week of stable gas prices,” De Haan said.

Gas prices in Virginia are 3.3 cents per gallon lower than a month ago and stand 47.0 cents per gallon lower than a year ago.

The national average price of gasoline also fell 1.1 cents per gallon in the last week, averaging $2.16/g today. The national average is down 3.5 cents per gallon from a month ago and stands 47.7 cents per gallon lower than a year ago.

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

• August 10, 2019: $2.45/g (U.S. Average: $2.64/g)
• August 10, 2018: $2.63/g (U.S. Average: $2.86/g)
• August 10, 2017: $2.16/g (U.S. Average: $2.35/g)
• August 10, 2016: $1.91/g (U.S. Average: $2.13/g)
• August 10, 2015: $2.39/g (U.S. Average: $2.59/g)
• August 10, 2014: $3.26/g (U.S. Average: $3.48/g)
• August 10, 2013: $3.40/g (U.S. Average: $3.55/g)
• August 10, 2012: $3.53/g (U.S. Average: $3.67/g)
• August 10, 2011: $3.53/g (U.S. Average: $3.62/g)
• August 10, 2010: $2.63/g (U.S. Average: $2.76/g)

Neighboring areas and their current gas prices:

• Roanoke- $1.95/g, down 1.2 cents per gallon from last week’s $1.97/g.
• Richmond- $1.96/g, down 0.9 cents per gallon from last week’s $1.97/g.
• West Virginia- $2.08/g, down 2.7 cents per gallon from last week’s $2.10/g.

GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. Unlike AAA’s once daily survey covering credit card transactions at 100,000 stations and the Lundberg Survey, updated once every two weeks based on 7,000 gas stations, GasBuddy’s survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country.

GasBuddy data is accessible at FuelInsights.GasBuddy.com.