Virginia gas prices down slightly ahead of expected slower Thanksgiving week

Virginia gas prices have fallen 0.6 cents per gallon in the past week, averaging $2.03/gallon today, according to GasBuddy’s daily survey of 4,081 stations.

Gas prices in Virginia are 5.8 cents per gallon lower than a month ago and stand 32.3 cents per gallon lower than a year ago.

The national average price of gasoline has fallen 1.5 cents per gallon in the last week, averaging $2.10/g today. The national average is down 5.0 cents per gallon from a month ago and stands 49.6 cents per gallon lower than a year ago.

Analysis

“With Thanksgiving nearly upon us and fewer Americans hitting the road, gas prices have seen some downward movement over the last week, even as oil prices hold near recent highs,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “We may end up seeing the lowest Thanksgiving prices in five years if prices continue to trend lower this week, a sign of how the coronavirus has sapped demand for the majority of the year. Between now and the end of the year, we aren’t likely to see many fireworks at the pump as demand continues to remain well below prior years, but as a vaccine is set to be released in the months ahead, prices will likely aim for higher ground, so motorists take heed that today’s prices may not hold for much longer.”

Trends

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

• November 23, 2019: $2.35/g (U.S. Average: $2.59/g)
• November 23, 2018: $2.39/g (U.S. Average: $2.55/g)
• November 23, 2017: $2.31/g (U.S. Average: $2.51/g)
• November 23, 2016: $1.98/g (U.S. Average: $2.12/g)
• November 23, 2015: $1.91/g (U.S. Average: $2.06/g)
• November 23, 2014: $2.65/g (U.S. Average: $2.81/g)
• November 23, 2013: $3.20/g (U.S. Average: $3.25/g)
• November 23, 2012: $3.24/g (U.S. Average: $3.43/g)
• November 23, 2011: $3.23/g (U.S. Average: $3.32/g)
• November 23, 2010: $2.75/g (U.S. Average: $2.85/g)

Neighboring areas and their current gas prices:

• Roanoke- $1.93/g, up 1 cent per gallon from last week’s $1.92/g.
• Richmond- $2.05/g, down 0.7 cents per gallon from last week’s $2.06/g.
• West Virginia- $2.10/g, down 2.7 cents per gallon from last week’s $2.13/g.

GasBuddy data is accessible at FuelInsights.GasBuddy.com.