GasBuddy: Gas prices back on the decline in Virginia, nation

Virginia gas prices have fallen 2.6 cents per gallon in the past week, averaging $2.61/g today, according to the GasBuddy daily survey of 4,081 stations. Gas prices in Virginia are 3.6 cents per gallon higher than a month ago, yet stand 6.0 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Virginia is priced at $2.27/g today while the most expensive is $3.29/g, a difference of $1.02/g. The lowest price in the state today is $2.27/g while the highest is $3.29/g, a difference of $1.02/g. The cheapest price in the entire country today stands at $1.99/g while the most expensive is $5.65/g, a difference of $3.66/g.

The national average price of gasoline has fallen 3.8 cents per gallon in the last week, averaging $2.85/g today. The national average is up 2.1 cents per gallon from a month ago, yet stands 1.1 cents per gallon lower than a year ago.

Historical gasoline prices in Virginia and the national average going back a decade:

• May 13, 2018: $2.67/g (U.S. Average: $2.86/g)
• May 13, 2017: $2.16/g (U.S. Average: $2.33/g)
• May 13, 2016: $2.06/g (U.S. Average: $2.22/g)
• May 13, 2015: $2.44/g (U.S. Average: $2.67/g)
• May 13, 2014: $3.47/g (U.S. Average: $3.64/g)
• May 13, 2013: $3.36/g (U.S. Average: $3.58/g)
• May 13, 2012: $3.58/g (U.S. Average: $3.73/g)
• May 13, 2011: $3.90/g (U.S. Average: $3.98/g)
• May 13, 2010: $2.78/g (U.S. Average: $2.87/g)
• May 13, 2009: $2.15/g (U.S. Average: $2.27/g)

Neighboring areas and their current gas prices:

• Roanoke- $2.55/g, down 3.9 cents per gallon from last week’s $2.59/g.
• Richmond- $2.59/g, down 3.6 cents per gallon from last week’s $2.63/g.
• West Virginia- $2.77/g, down 4.9 cents per gallon from last week’s $2.82/g.

“Relief at the pump has indeed begun across the country with a majority of states seeing average prices decline versus a week ago, giving solid evidence the worst is likely behind us,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “However, the potential lightning rod of a U.S./China trade deal is perhaps the only prospect that could bring a return to higher prices. For now, just a dozen or so states saw prices rising while most moved lower, including California, but some pain may linger in Washington and Oregon where supply remains tight and prices high. We’ll be watching for refinery utilization rates to rise in this week’s report from the Energy Information Administration- it will be a critical data point on where and when more relief arrives. For most Americans, I think we’ll slowly all join in on the falling prices and by June, the national average may stand 5-20 cents lower than today, provided there’s no trade deal with the U.S. and China, whereas a trade deal could lead to a second hurrah at the pump.”

For live fuel price averages, visit http://FuelInsights.GasBuddy.com.