Gas prices unchanged as economy begins to slowly reopen

Cities and states are slowly reopening from the COVID-19 shutdown, meaning the downward pressure on gas prices may be coming to an end.

Virginia gas prices were unchanged in the past week, averaging $1.70/gallon today, according to GasBuddy’s daily survey of 4,081 stations.

“It’s becoming a bit clearer that those 99-cent-per-gallon gas prices from the COVID-19 pandemic are solidly behind us as gasoline demand rebounds across the country as cities and states slowly reopen. The lowest priced stations in the country will see some upward movement, but most areas will still see declines,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.

Gas prices in Virginia are 12.8 cents per gallon lower than a month ago and stand 95.9 cents per gallon lower than a year ago.

The national average price of gasoline has risen 1.5 cents per gallon in the last week, averaging $1.75/g today. The national average is down 14.8 cents per gallon from a month ago and stands 114.7 cents per gallon lower than a year ago.

GasBuddy data is accessible at http://FuelInsights.GasBuddy.com.

According to GasBuddy price reports, the cheapest station in Virginia is priced at $1.14/g today while the most expensive is $2.99/gallon, a difference of $1.85/gallon.

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

• May 4, 2019: $2.65/g (U.S. Average: $2.90/g)
• May 4, 2018: $2.62/g (U.S. Average: $2.81/g)
• May 4, 2017: $2.17/g (U.S. Average: $2.35/g)
• May 4, 2016: $2.08/g (U.S. Average: $2.22/g)
• May 4, 2015: $2.40/g (U.S. Average: $2.62/g)
• May 4, 2014: $3.51/g (U.S. Average: $3.68/g)
• May 4, 2013: $3.35/g (U.S. Average: $3.52/g)
• May 4, 2012: $3.70/g (U.S. Average: $3.80/g)
• May 4, 2011: $3.88/g (U.S. Average: $3.99/g)
• May 4, 2010: $2.80/g (U.S. Average: $2.89/g)

Neighboring areas and their current gas prices:

• Roanoke- $1.50/g, down 3.8 cents per gallon from last week’s $1.54/g.
• Richmond- $1.67/g, down 1.8 cents per gallon from last week’s $1.69/g.
• West Virginia- $1.70/g, down 3.0 cents per gallon from last week’s $1.73/g.