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Slight dip in gas prices in advance of the Fourth

I would caution against getting too excited, but good news on the gas-price front is good news on the gas-price front.  “After nearly two months of daily gas price increases, we are finally seeing a little relief at the gas pumps, which motorists are welcoming just in time for the holiday weekend,” said Martha M. Meade, manager of public and government affairs for AAA Mid-Atlantic, noting the run of five consecutive days now that the average national price of a gallon of regular unleaded has declined.

The average nationally is now at $2.64 a gallon, down five cents from a week ago at this time.

The average in Virginia is $2.52 a gallon, down four cents from last week.

Trading of crude oil dropped below $70 a barrel at the close of business on Friday. Crude oil had been trading at the $40-a-barrel mark in March.

Crude had been at $147 last July, when a gallon of regular unleaded was an average $4.11 a gallon nationwide. Even with the near-$1.50-gallon drop, AAA is projecting Fourth of July travel to dip this year by nearly 3 percent. The decrease, according to AAA, is to be attributed to uncertainty about the strength of the economy, as well as rising unemployment and sagging household incomes.

augusta free press
augusta free press