Average gasoline prices in Virginia fell 8.3 cents per gallon last week, averaging $3.12 per gallon as of Monday, Feb. 27, according to GasBuddy’s survey of 4,081 stations in Virginia.
Prices in Virginia are 29.8 cents per gallon lower than they were a month ago and 30.8 cents per gallon lower than they were a year ago.
According to GasBuddy price reports, the cheapest station in Virginia was priced at $2.69 per gallon Monday while the most expensive gas price was $3.99/g, a difference of $1.30/g.
The national average price of gasoline fell 4.3 cents per gallon in the last week, averaging $3.33 per gallon Monday. The national average is down 17.6 cents per gallon from a month ago and 26.3 cents per gallon lower than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
“The national average has resumed its decline after a pause last week as oil and wholesale gasoline prices fell on worrisome inflation figures showing the Fed likely to ramp up rates to slow inflation,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Some nine out of 10 states saw declines over the last week, so the drops are showing up for most across the country, with the exception of the West Coast as the transition to summer blends continues, and in the Great Lakes, where prices cycled last week but have now resumed declining,” according to De Haan. “For the weeks ahead, tradition tells us to expect prices to move up eventually, but that could at least be partially offset by inflationary data that continue to be hotter than expected, leading to anxiety that the Fed will boost interest rates and cooling the economy and oil demand considerably.”
GasBuddy is the authoritative voice for gas prices and the only source for station-level data. GasBuddy’s survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country. GasBuddy data are accessible at http://prices.GasBuddy.com.
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