GasBuddy Virginia weekly gas price update, outlook

Virginia gas prices have fallen 1.9 cents per gallon in the past week, averaging $2.55/g today, according to the GasBuddy daily survey of 4,081 stations. Gas prices in Virginia are 9.2 cents per gallon lower than a month ago, yet stand 18.7 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Virginia is priced at $2.21/g today while the most expensive is $3.29/g, a difference of $1.08/g. The lowest price in the state today is $2.21/g while the highest is $3.29/g, a difference of $1.08/g. The cheapest price in the entire country today stands at $1.89/g while the most expensive is $5.86/g, a difference of $3.97/g.

The national average price of gasoline has fallen 1.6 cents per gallon in the last week, averaging $2.81/g today. The national average is down 8.9 cents per gallon from a month ago, yet stands 13.8 cents per gallon lower than a year ago.

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

• June 3, 2018: $2.74/g (U.S. Average: $2.94/g)
• June 3, 2017: $2.16/g (U.S. Average: $2.37/g)
• June 3, 2016: $2.19/g (U.S. Average: $2.35/g)
• June 3, 2015: $2.53/g (U.S. Average: $2.76/g)
• June 3, 2014: $3.47/g (U.S. Average: $3.67/g)
• June 3, 2013: $3.37/g (U.S. Average: $3.62/g)
• June 3, 2012: $3.40/g (U.S. Average: $3.58/g)
• June 3, 2011: $3.67/g (U.S. Average: $3.79/g)
• June 3, 2010: $2.59/g (U.S. Average: $2.70/g)
• June 3, 2009: $2.41/g (U.S. Average: $2.55/g)

Neighboring areas and their current gas prices:

• Roanoke- $2.47/g, down 3.4 cents per gallon from last week’s $2.51/g.
• Richmond- $2.54/g, down 2.2 cents per gallon from last week’s $2.56/g.
• West Virginia- $2.69/g, down 2.9 cents per gallon from last week’s $2.72/g.

“The national average has fallen for its fourth straight week, probably not something motorists would associate with the start of the summer driving season,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “More impressively is the surprise that may soon hit some motorists: the nation’s cheapest gas prices may soon fall back under $2 per gallon as oil prices have plummeted nearly $14 in the last 8 weeks, prompted by worries about President Trump’s tariffs on China and now also Mexico, undermining the U.S. and global economy, and perhaps leading to a slowdown in oil demand at the same time as U.S. oil inventories have rebounded sharply. While there may be volatility and a return to higher prices should Trump make a deal to avoid tariffs on both the countries, for now, it’s going to be a big win at the gas pump with prices in most areas likely to fall notably in the week ahead.”

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