Virginia gas prices holding steady: Where are they headed?

Virginia gas prices have fallen 0.3 cents per gallon in the past week, averaging $2.72/gallon today, according to GasBuddy’s daily survey of 4,081 stations in Virginia.

Gas prices in Virginia are 5.3 cents per gallon lower than a month ago and stand 98.2 cents per gallon higher than a year ago.

The national average price of gasoline is unchanged  in the last week, averaging $2.85/gallon today. The national average is down 2.2 cents per gallon from a month ago and stands $1.07/gallon higher than a year ago.

Analysis

“Gas prices have remained largely stable in the last week across much of the country with the exception of the West Coast, where prices in some areas continue to advance, mainly in California as summer gasoline and healthy demand have boosted prices, but for everyone else, we’re far removed from the fast pace of increases we saw earlier this year,” said Patrick De Haan, head of petroleum analysis for GasBuddy.

“Gasoline demand has given up ground for the second straight week, likely due to some areas seeing a rise in coronavirus cases, and as spring break plans conclude. The next trend in gas prices isn’t evident just yet, we may see additional slight sideways moves in the weeks ahead, until either demand starts to increase notably again, or we see the opposite.”

Trends

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

• April 19, 2020: $1.73/g (U.S. Average: $1.78/g)
• April 19, 2019: $2.59/g (U.S. Average: $2.85/g)
• April 19, 2018: $2.57/g (U.S. Average: $2.76/g)
• April 19, 2017: $2.23/g (U.S. Average: $2.42/g)
• April 19, 2016: $1.94/g (U.S. Average: $2.11/g)
• April 19, 2015: $2.25/g (U.S. Average: $2.45/g)
• April 19, 2014: $3.49/g (U.S. Average: $3.67/g)
• April 19, 2013: $3.42/g (U.S. Average: $3.50/g)
• April 19, 2012: $3.87/g (U.S. Average: $3.89/g)
• April 19, 2011: $3.76/g (U.S. Average: $3.84/g)

Neighboring areas and their current gas prices:

• Roanoke- $2.63/g, up 0.4 cents per gallon from last week’s $2.63/g.
• Richmond- $2.70/g, unchanged  from last week’s $2.70/g.
• West Virginia- $2.73/g, up 1 cent per gallon from last week’s $2.72/g.

GasBuddy data is accessible at FuelInsights.GasBuddy.com.