Slow ease into reopening pushing gas prices higher with increased demand

gasbuddyMore motorists on the roads with the slow ease into the short-term new normal are pushing gas prices higher.

Virginia gas prices have risen 5.8 cents per gallon in the past week, averaging $1.80/gallon today, according to GasBuddy’s daily survey of 4,081 stations.

Gas prices in Virginia are 10.2 cents per gallon higher than a month ago.

The national average price of gasoline has risen 5.5 cents per gallon in the last week, averaging $1.96/gallon today, up 22.3 cents per gallon from a month ago.

GasBuddy data is accessible at FuelInsights.GasBuddy.com.

It’s all about demand.

“Average gasoline prices across the U.S. continue to recover as more motorists take back to the roads as states relax previous shelter-in-place orders and begin filling their tanks, driving demand to continue rising. Since demand is a major ingredient in what drives gasoline prices and demand is likely to continue to rebound, it is also pushing the price of both crude oil and gas prices higher,” said Patrick DeHaan, head of petroleum analysis at GasBuddy.

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

  • May 26, 2019: $2.57/g (U.S. Average: $2.83/g)
  • May 26, 2018: $2.76/g (U.S. Average: $2.97/g)
  • May 26, 2017: $2.17/g (U.S. Average: $2.37/g)
  • May 26, 2016: $2.14/g (U.S. Average: $2.32/g)
  • May 26, 2015: $2.51/g (U.S. Average: $2.74/g)
  • May 26, 2014: $3.48/g (U.S. Average: $3.66/g)
  • May 26, 2013: $3.39/g (U.S. Average: $3.63/g)
  • May 26, 2012: $3.46/g (U.S. Average: $3.65/g)
  • May 26, 2011: $3.73/g (U.S. Average: $3.81/g)
  • May 26, 2010: $2.65/g (U.S. Average: $2.74/g)

Neighboring areas and their current gas prices:

  • Roanoke- $1.62/g, up 4.5 cents per gallon from last week’s $1.58/g.
  • Richmond- $1.73/g, up 3.0 cents per gallon from last week’s $1.70/g.
  • West Virginia- $1.90/g, up 3.2 cents per gallon from last week’s $1.87/g.

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