Slight uptick in gas prices in Virginia over past week

Virginia gas prices have risen 0.3 cents per gallon in the past week, averaging $1.99/gallon today, according to GasBuddy’s daily survey of 4,081 stations.

Gas prices in Virginia are 2.4 cents per gallon lower than a month ago and stand 42.0 cents per gallon lower than a year ago.

The national average price of gasoline has fallen 1.2 cents per gallon in the last week, averaging $2.16/g today. The national average is down 3.9 cents per gallon from a month ago and stands 45.2 cents per gallon lower than a year ago.

GasBuddy data is accessible at FuelInsights.GasBuddy.com.

Analysis

“For the seventh straight week and now some 53 days, the national average price of gasoline has stayed in a range of less than a nickel, an incredible feat for the summer driving season, and a level of summer stability we haven’t seen in decades,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

“However, with new data from the Pay with GasBuddy payments card showing weekly demand last week rose to a fresh coronavirus high, we may see some upside in oil prices propelled by the good news that demand is solidly moving higher again. Should demand continue to rebound, its only natural that with less oil on global markets, prices are likely to drift to the upside if the situation continues to improve. ”

Trends

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

• August 17, 2019: $2.41/g (U.S. Average: $2.61/g)
• August 17, 2018: $2.62/g (U.S. Average: $2.84/g)
• August 17, 2017: $2.16/g (U.S. Average: $2.33/g)
• August 17, 2016: $1.90/g (U.S. Average: $2.13/g)
• August 17, 2015: $2.36/g (U.S. Average: $2.68/g)
• August 17, 2014: $3.23/g (U.S. Average: $3.45/g)
• August 17, 2013: $3.36/g (U.S. Average: $3.53/g)
• August 17, 2012: $3.57/g (U.S. Average: $3.72/g)
• August 17, 2011: $3.47/g (U.S. Average: $3.58/g)
• August 17, 2010: $2.59/g (U.S. Average: $2.72/g)

Neighboring areas and their current gas prices:

• Roanoke- $1.95/g, up 0.9 cents per gallon from last week’s $1.94/g.
• Richmond- $1.97/g, unchanged  from last week’s $1.97/g.
• West Virginia- $2.07/g, up 1.3 cents per gallon from last week’s $2.05/g.