Virginia gas prices up a nickel: Trending upward toward spring?

Gas prices in Virginia have risen 4.9 cents per gallon in the last week, averaging $3.20/gallon today, according to GasBuddy’s survey of 4,081 stations in Virginia.

Prices in Virginia are 4.6 cents per gallon higher than a month ago and stand 87.1 cents per gallon higher than a year ago.

The national average price of gasoline has risen 2.9 cents per gallon in the last week, averaging $3.34/gallon today. The national average is up 6.8 cents per gallon from a month ago and stands 92.8 cents 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.

Analysis

“The price of oil pushed into territory unseen in over seven years as WTI crude hit $88 per barrel, which continues to drag gasoline prices higher. With continued concerns over geopolitical tensions and crude oil supply, the small yet noticeable increases are likely to continue,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The only factor keeping gas prices from rising more substantially is that gasoline demand remains low as winter storms keep motorists closer to home. Once the weather starts to turn and warm gradually, we’ll lose the only restraint to larger price increases.”

Trends

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

• January 31, 2021: $2.33/g (U.S. Average: $2.42/g)
• January 31, 2020: $2.30/g (U.S. Average: $2.47/g)
• January 31, 2019: $2.09/g (U.S. Average: $2.27/g)
• January 31, 2018: $2.45/g (U.S. Average: $2.59/g)
• January 31, 2017: $2.13/g (U.S. Average: $2.27/g)
• January 31, 2016: $1.66/g (U.S. Average: $1.80/g)
• January 31, 2015: $1.94/g (U.S. Average: $2.05/g)
• January 31, 2014: $3.15/g (U.S. Average: $3.27/g)
• January 31, 2013: $3.31/g (U.S. Average: $3.43/g)
• January 31, 2012: $3.43/g (U.S. Average: $3.44/g)

Neighboring areas and their current gas prices:

• Roanoke- $3.12/g, up 2.9 cents per gallon from last week’s $3.09/g.
• Richmond- $3.17/g, up 4.6 cents per gallon from last week’s $3.13/g.
• West Virginia- $3.16/g, unchanged  from last week’s $3.16/g.

GasBuddy data is accessible at prices.GasBuddy.com.