Virginia gas prices inch up slightly over past week

Virginia gas prices have risen 1 cent per gallon in the past week, averaging $2.31/gallon today, according to GasBuddy’s daily survey of 4,081 stations.

Gas prices in Virginia are 20.8 cents per gallon higher than a month ago and stand 3.9 cents per gallon lower than a year ago.

The national average price of gasoline has risen 1.1 cents per gallon in the last week, averaging $2.40/g today. The national average is up 14.4 cents per gallon from a month ago and stands 12.6 cents per gallon lower than a year ago.

Analysis

“Finally, after several weeks of sharply rising gas prices, the pace of price increases has slowed significantly in recent days as prices are now largely caught up to oil’s increases as of late,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “While the national average remains at its highest level since the pandemic, increases are likely to slow down in the immediate short-term unless and until oil prices see renewed momentum. When it comes to demand, Pay with GasBuddy data showed last week’s gasoline demand at its highest level since November, another bullish factor as the nation continues to see slow improvement from the pandemic.”

Trends

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

• January 25, 2020: $2.35/g (U.S. Average: $2.52/g)
• January 25, 2019: $2.09/g (U.S. Average: $2.28/g)
• January 25, 2018: $2.42/g (U.S. Average: $2.57/g)
• January 25, 2017: $2.16/g (U.S. Average: $2.29/g)
• January 25, 2016: $1.68/g (U.S. Average: $1.82/g)
• January 25, 2015: $1.96/g (U.S. Average: $2.02/g)
• January 25, 2014: $3.17/g (U.S. Average: $3.28/g)
• January 25, 2013: $3.25/g (U.S. Average: $3.33/g)
• January 25, 2012: $3.35/g (U.S. Average: $3.38/g)
• January 25, 2011: $3.01/g (U.S. Average: $3.09/g)

Neighboring areas and their current gas prices:

• Roanoke- $2.23/g, up 2.2 cents per gallon from last week’s $2.20/g.
• Richmond- $2.35/g, up 0.5 cents per gallon from last week’s $2.35/g.
• West Virginia- $2.34/g, down 1.5 cents per gallon from last week’s $2.35/g.

GasBuddy data is accessible at FuelInsights.GasBuddy.com.