Virginia gas prices up 17 cents in the past week: Diesel also up sharply

Virginia gas prices are up 17 cents a gallon over the past week, according to GasBuddy, but the bigger issue may be the surge in diesel prices.

“Not only are diesel prices at a record high, they are at their largest differential to gasoline on record, surpassing the 98-cent difference in 2008 and currently standing at a $1.20 per gallon premium,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While motorists filling with gasoline have seen a slight rise in prices, diesel’s surge will be a double whammy as diesel prices will soon be passed along to retail channels, further pushing up the cost of goods.”

The price of diesel has risen 22.6 cents nationally in the past week and stands at $5.518 per gallon, according to GasBuddy.

Virginians are paying an average of $4.22 per gallon at the pump today, according to GasBuddy’s survey of 4,081 stations in Virginia. Prices in Virginia are 23.1 cents per gallon higher than a month ago and stand $1.45/g higher than a year ago.

The national average price of gasoline has risen 13.6 cents per gallon in the last week, averaging $4.31 per gallon today. The national average is up 19.6 cents per gallon from a month ago and stands $1.36 per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

“Gasoline and diesel prices alike saw strong upward momentum last week as oil prices continued to climb after the EU signaled its desire to sanction Russian oil. In addition, U.S. petroleum inventories saw yet another weekly decline as we near the start of summer driving season,” De Haan said.

Trends

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

• May 9, 2021: $2.77/g (U.S. Average: $2.95/g)
• May 9, 2020: $1.70/g (U.S. Average: $1.84/g)
• May 9, 2019: $2.62/g (U.S. Average: $2.87/g)
• May 9, 2018: $2.64/g (U.S. Average: $2.84/g)
• May 9, 2017: $2.17/g (U.S. Average: $2.33/g)
• May 9, 2016: $2.07/g (U.S. Average: $2.21/g)
• May 9, 2015: $2.43/g (U.S. Average: $2.66/g)
• May 9, 2014: $3.48/g (U.S. Average: $3.67/g)
• May 9, 2013: $3.36/g (U.S. Average: $3.55/g)
• May 9, 2012: $3.63/g (U.S. Average: $3.74/g)

Neighboring areas and their current gas prices:

• Roanoke- $4.06/g, up 16.4 cents per gallon from last week’s $3.90/g.
• Richmond- $4.24/g, up 17.6 cents per gallon from last week’s $4.06/g.
• West Virginia- $4.13/g, up 17.4 cents per gallon from last week’s $3.96/g.

GasBuddy data is accessible at prices.GasBuddy.com.