Gas prices are lowest in years
Despite a slight rise in pump prices, the price of gas remains the lowest in Virginia since December 2016, AAA Tidewater Virginia announced on Tuesday.
Regions in the commonwealth are still averaging just below $2 per gallon, including Hampton Roads and Richmond, both of which rest at $1.99.
According to the press release, gas prices in Virginia were 33 cents less than last year and eight cents less than last month as of Tuesday. Nationally, prices were at $2.25 per gallon, a 29-cent drop from last year.
But it does not look like pump prices will drop much lower, as crude oil prices continue to climb.
“Crude oil prices have increased since the beginning of the year, but over-supply of crude in the market and low demand have helped to keep the average relatively stable,” AAA Tidewater Virginia spokeswoman Georjeane Blumling stated in the press release. “Crude oil prices will be a dominant factor towards determining if motorists will see slightly cheaper or more expensive pump prices in coming weeks.”
Gasbuddy.com on Tuesday recorded regular gas prices at Suffolk pumps that ranged from $2.06 to as low as $1.89, a slight increase compared to the drop from the $1.99 to $1.84 range that was recorded on Jan. 8.