Virginia gas prices up slightly this week: Push from promising vaccine news

Virginia gas prices have risen 0.7 cents per gallon in the past week, averaging $2.04/gallon today, according to GasBuddy’s daily survey of 4,081 stations.

Gas prices in Virginia are 5.7 cents per gallon lower than a month ago and stand 29.6 cents per gallon lower than a year ago.

The national average price of gasoline has risen 1.2 cents per gallon in the last week, averaging $2.12/g today. The national average is down 4.3 cents per gallon from a month ago and stands 49.0 cents per gallon lower than a year ago.

Analysis

“For the first time in seven weeks, GasBuddy data showed average gas prices rose last week, unsurprising given the previous 18 percent jump in the price of crude oil on promising vaccine news,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “This year has been anything but normal, and such news of promising vaccine results will likely rekindle gas prices for a short while. We’re likely to see prices inch up slightly again this week as gas stations continue to try to pass along the rise from last week to retail, but ahead of Thanksgiving, prices should be mostly stable. For now, motorists shouldn’t expect too many fireworks at the pump, but the upcoming release of GasBuddy’s Holiday Travel survey highlights some big changes motorists are making for the last six weeks of the year.”

Trends

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

• November 16, 2019: $2.34/g (U.S. Average: $2.61/g)
• November 16, 2018: $2.44/g (U.S. Average: $2.63/g)
• November 16, 2017: $2.33/g (U.S. Average: $2.56/g)
• November 16, 2016: $2.00/g (U.S. Average: $2.15/g)
• November 16, 2015: $1.98/g (U.S. Average: $2.15/g)
• November 16, 2014: $2.70/g (U.S. Average: $2.88/g)
• November 16, 2013: $3.09/g (U.S. Average: $3.19/g)
• November 16, 2012: $3.24/g (U.S. Average: $3.42/g)
• November 16, 2011: $3.28/g (U.S. Average: $3.39/g)
• November 16, 2010: $2.76/g (U.S. Average: $2.87/g)

Neighboring areas and their current gas prices:

• Roanoke- $1.92/g, down 0.9 cents per gallon from last week’s $1.93/g.
• Richmond- $2.06/g, up 0.9 cents per gallon from last week’s $2.05/g.
• West Virginia- $2.13/g, up 2.6 cents per gallon from last week’s $2.11/g.

GasBuddy data is accessible at FuelInsights.GasBuddy.com.