Gas Price

Report: Gas prices likely to increase in Virginia

in Virginia

The gas prices in Virginia have surged by 8.1 cents per gallon during the last week, averaging $2.31/g on March 11, as stated in GasBuddy’s survey of 4,081 stations. Currently, Virginia’s gas prices are 22.9 cents per gallon more than last month’s valuation. However, the figure is 3.2 cents per gallon lesser than a year ago.

The reports also pointed out that Virginia’s cheapest station was priced at $1.96/g on March 11, while $2.99/g was the price at the most expensive station, which is a difference of $1.03/g.

The national average price of gasoline has risen 4.9 cents per gallon in the last week, averaging $2.48/g today. The national average is up 19.6 cents per gallon from a month ago, yet stands 3.4 cents per gallon lower than a year ago.

The head of petroleum analysis for GasBuddy, Patrick DeHaan said, “As predicted, gas prices advanced across much of the country for the fourth straight week even as oil prices held relatively stable at $56 per barrel.”

DeHaan also said that the grounds for the endured disconnect remains corresponding to weeks past. Moreover, the refinery maintenance is in progress, which is eating into supply and output levels. To meet the growing market demand, high-priced, cleaner-burning gasoline is now the leading fuel that is being produced. The gap has set an upward momentum in the wholesale gas prices, and on the other hand the oil prices remain mostly moderate.

The market experts suggest that the rising gasoline prices could possibly knock out the 135 remaining stations across the country, costing $1.99 per gallon or less. “The number of stations with $3 per gallon will be on the rise, majorly out West as the pinch at the pump grows in those areas- the first in the nation to fully move to summer gasoline in the next two weeks,” DeHaan added.

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