Local gas prices still flat

Published 11:35 pm Tuesday, August 14, 2018

AAA Tidewater released more good news on Monday for Hampton Roads drivers heading to the gas pumps this week.AAA Tidewater released more good news on Monday for Hampton Roads drivers heading to the gas pumps this week.

Hampton Roads gas prices have been steady at $2.62 per gallon for the last two weeks, which has been the same as the Virginia average. According to the press release, the Virginia and Hampton Roads average of $2.62 per gallon represents a 47-cent increase compared to the same time last year.

According to the press release, the Monday average for Virginia was 1 cent less than last week, 3 cents less than last month and 51 cents more than the same time last year. Other states are seeing prices fluctuate from 8-cent rises to drops as much as 10 cents.

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The Energy Information Administration’s detailed a decrease in consumer gasoline demand coupled with an increase in gasoline inventories, according to the press release. The substantial addition of 3 million barrels is also the first increase in gasoline inventories in six weeks.

“With prices staying flat, it suggests that gasoline supply and demand are in balance for the time being,” said Georjeane Blumling, vice president of public affairs for AAA Tidewater Virginia, stated in the press release. “That’s not to say that we could not see spikes in demand closer to Labor Day as motorists squeeze in those final summer road trips.”

Gasbuddy.com on Tuesday recorded regular gas prices at Suffolk pumps that ranged from as low as $2.54 to as high as $2.69 per gallon, which is a slight uptick compared to the $2.48-to-$2.69 range recorded on July 31.

The price per gallon in Suffolk has not eclipsed $2.70 since June 11, according to AAA.