Virginia gas prices remain in the bottom 10

Published 10:42 pm Tuesday, July 24, 2018

While the price for a gallon of unleaded gasoline inches closer to $3 in some states, Virginia continues to remain significantly lower than the national average, AAA Tidewater announced on Monday.

The average price in Virginia was recorded at $2.61 per gallon on Monday, which was 23 cents less than the national average. That ranks as the sixth-cheapest state average for the week for second week in a row following AAA Tidewater’s announcement on July 16.

According to the Monday press release, the trend for July gas prices is volatility. The cost of crude oil rises and falls against lingering geopolitical concerns. The first half of the month saw the average price increase from $2.85 to $2.89 at pumps across the nation, while the national gas price average in second half of the month is markedly cheaper at $2.84 on Monday, the lowest national average since early May.

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“July gas prices have been on a roller coaster ride, but appear to be on a downward slope at the moment,” Georjeane Blumling, vice president of public affairs for AAA Tidewater Virginia, stated in the press release. “If demand and supply stay consistent, prices have the potential to stabilize barring any major events — geopolitical or natural disasters.” on Tuesday recorded regular gas prices at Suffolk pumps that ranged from as low as $2.52 to as high as $2.65, which is a slight decrease compared to the $2.53 to $2.69 per gallon range recorded on July 17.