Gas prices are up a penny nationally, and two cents a gallon in Virginia, from last week, a “short timeout” in the recent pace of declines, according to one analyst.
“Since the national average price of gasoline fell to its lowest June level since 2021 last week, we’ve seen the drop in prices take a break, with some states seeing a small rise over the last week. Thankfully, I expect this to be more like a short timeout, with an eventual return to falling gasoline prices in most states,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
Virginia drivers are paying, on average, $3.35 a gallon today, and drivers across the U.S. are paying $3.41 a gallon.
The national average price of diesel has fallen 1.6 cents in the last week and stands at $3.73 per gallon, its lowest price point since January 2022.
“Both gasoline and diesel prices remain below their year-ago level, which is music to the ears of the Federal Reserve, as fuel prices are a significant component of the Consumer Price Index. Also factoring in gasoline demand that has been running a bit weaker than expected, market fundamentals look pretty good right now if you’re a motorist,” De Haan said.
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