Gas prices increasing, but data suggests good news on the horizon

The switch to summer grades of gasoline is pushing gas prices higher, but there’s good news inside the numbers.

“With government data showing a rise in refinery utilization last week, there may be some good news on the horizon for drivers,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which reports that the national average price of gasoline has risen 6.2 cents per gallon in the last week, averaging $3.40 per gallon today.

Average gasoline prices in Virginia have risen 3.2 cents per gallon in the last week, averaging $3.24 per gallon today, according to GasBuddy’s survey of 4,081 stations in Virginia.

Prices in Virginia are 12.3 cents per gallon higher than a month ago and stand 0.5 cents per gallon lower than a year ago.

The national average price of diesel has fallen 1.3 cents in the last week and stands at $4.02 per gallon.

There’s a seasonal push upward this time each year due to the switch to summer gasoline, but
“if refineries continue to boost output of products like gasoline, diesel, and jet fuel, it could mean earlier-than-expected relief,” De Haan said.

“However, the changeover is still in process, so while we’ll likely see the continuation of upward pressure on prices, improvement in output could slow that pressure down some,” De Haan said.