Gas prices stay cold

Published 10:30 pm Monday, February 11, 2019

In spite of unpredictable highs and lows in nationwide gas stocks and demand, prices at Virginia gas pumps have remained steady, AAA Tidewater Virginia announced on Monday.

The average price for a gallon in Virginia has been $2.05 since the start of the year. While many other states are experiencing a rise in gas prices, Virginia prices are three cents cheaper than last month and 36 cents cheaper than last year, according to the press release.

Hampton Roads, Richmond and other parts of Virginia have remained at or just below $2 per gallon as of Monday.

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One of the reasons for this nationwide consistency has been the cold. According to Energy Information Administration, frigid temperatures have contributed toward a half-a-million-barrel-per-day drop in demand to 9 million barrels, a level that’s consistent with demand one year ago.

AAA spokeswoman Georjeane Blumling stated in the press release that crude oil remains relatively cheap, fluctuating between $51 and $55 per barrel.

“This, coupled with fluctuating gasoline stocks due to planned and unplanned maintenance at refineries as well as instability in demand, likely due to frigid temperatures,” Blumling stated, “are all contributing toward movement at retail pumps across the country.”

Gasbuddy.com on Monday recorded regular gas prices at Suffolk pumps that ranged from $2.06 to as low as $1.89, the same range that was recorded on Jan. 22.