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Gas prices up, slightly, this week: Where is the long-term trend headed?

Chris Graham
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Gas prices are up again, modestly, this week, with GasBuddy measuring the average across the U.S. up 2.5 cents per gallon over the past week, to $3.28 per gallon.

Virginia actually saw a slight decrease of 2.4 cents per gallon, to $3.15 per gallon, according to the GasBuddy data.

Diesel is down 7.2 cents per gallon over the past week, to $4.56 per gallon.

Gas prices may “nudge up slightly” in the week ahead in some areas, according to Patrick De Haan, head of petroleum analysis at GasBuddy, but the longer-term forecast is for a decline.

“Oil prices have seen a bit of a rally, finishing last week at nearly $80 per barrel again as Chinese demand starts to jump as expected, but with COVID cases and deaths now also surging in China, the jump in demand could be short-lived,” De Haan said.

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].