Slight uptick in gas prices in Virginia ahead of holidays

Virginia gas prices have risen 1.6 cents per gallon in the past week, averaging $2.09/gallon today, according to GasBuddy’s daily survey of 4,081 stations.

Gas prices in Virginia are 4.1 cents per gallon higher than a month ago and stand 24.4 cents per gallon lower than a year ago.

The national average price of gasoline has fallen 0.7 cents per gallon in the last week, averaging $2.14/g today. The national average is up 1.4 cents per gallon from a month ago and stands 41.4 cents per gallon lower than a year ago.

Analysis

“After gas prices spiked last week in their biggest weekly rise since August, we’ve seen them cool back down for the time being. With COVID-19 cases continuing to rise and restrictions weighing on gasoline demand, we’re likely to see optimism over vaccinations offset by lower current demand for the most part,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “In the weeks ahead as that balance shifts and millions get the vaccination, if things look much improved, I would expect for a longer upward move in gas prices. For now, however, the holidays will be marked by the lowest seasonal prices in years.”

Trends

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

• December 14, 2019: $2.33/g (U.S. Average: $2.56/g)
• December 14, 2018: $2.22/g (U.S. Average: $2.38/g)
• December 14, 2017: $2.26/g (U.S. Average: $2.44/g)
• December 14, 2016: $2.11/g (U.S. Average: $2.22/g)
• December 14, 2015: $1.85/g (U.S. Average: $2.01/g)
• December 14, 2014: $2.43/g (U.S. Average: $2.54/g)
• December 14, 2013: $3.17/g (U.S. Average: $3.23/g)
• December 14, 2012: $3.14/g (U.S. Average: $3.28/g)
• December 14, 2011: $3.16/g (U.S. Average: $3.26/g)
• December 14, 2010: $2.89/g (U.S. Average: $2.96/g)

Neighboring areas and their current gas prices:

• Roanoke- $1.97/g, down 0.8 cents per gallon from last week’s $1.98/g.
• Richmond- $2.12/g, down 0.3 cents per gallon from last week’s $2.13/g.
• West Virginia- $2.08/g, down 1.5 cents per gallon from last week’s $2.10/g.

GasBuddy data is accessible at FuelInsights.GasBuddy.com.