Virginia’s average gallon now sixth-cheapest nationwide

Published 8:53 pm Tuesday, July 17, 2018

While drivers across the U.S. have seen gas prices rise since July 4, Virginia motorists have benefited from one the top-10 lowest gas price averages nationwide for multiple weeks. AAA Tidewater announced on Monday that this trend is set to continue this week.

According to the press release, Virginia’s average price for an unleaded gallon on Monday was $2.62, which is on par with last week’s average. That ranked Virginia as the ninth-cheapest in the U.S. last week, and the state climbed to the sixth-cheapest with the same average this week.

Some states are seeing nearly a 10-cent jump in prices — including Delaware, Florida and Michigan — but Virginia remains relatively easier for drivers’ wallets at $2.62 per unleaded gallon. That’s just ahead of seventh-ranked Tennessee’s $2.63 per gallon, while Alabama was the cheapest at $2.55.

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Georjeane Blumling, vice president of public affairs for AAA Tidewater Virginia, explained that this trend may break into new price highs if there are any major disruptions.

“July typically has a tendency to see gas prices trend cheaper. However, with crude oil prices nearly $25 more a (barrel) compared to last year, instead we are seeing an upward pricing trend,” Blumling stated in the press release. “If this trend continues, and if we see any supply disruptions, such as a hurricane, pump prices may see new three-year highs.”

Concerns around tightening U.S. supplies have been elevated since the Energy Information Administration’s news that total crude oil stocks recorded a 12.7 million-barrel decline, the largest since October 2016. Oil prices may remain high, which will contribute to increased pump prices throughout the summer and possibly into the fall, according to the press release. on Tuesday recorded regular gas prices at Suffolk pumps that ranged from as low as $2.53 to as high as $2.69, which is a slight uptick compared to the $2.47 to $2.69 per gallon range recorded on July 10.