Virginia gas prices fell 1.2 cents per gallon in the past week, averaging $3.27/g as of Monday, Nov. 22, according to GasBuddy’s daily survey of 4,081 stations in Virginia. Still, gas prices in Virginia are 0.8 cents per gallon higher than they were a month ago and stand $1.24/g higher than a year ago.
According to GasBuddy price reports, the cheapest station in Virginia was priced at $2.89/g Monday while the most expensive was $3.89/g, a difference of 100.0 cents per gallon.
The national average price of gasoline fell 1.9 cents per gallon last week, averaging $3.39/g Monday, Nov. 22. The national average is up 2.8 cents per gallon from a month ago and stands $1.30/g higher than a year ago.
“With oil prices plunging nearly $10 from the recent peak of $85 per barrel, motorists will start to see gas prices decline nationwide, just in time for Thanksgiving, and the decline could stretch for several weeks,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “It’s not impossible, so long as oil prices hold near these levels or continue falling, that the national average could shed 15 to 30 cents per gallon over the coming weeks, while some areas like California could see declines of as much as 25 to 40 cents,” De Haan said. “While there’s reason to be optimistic that the peak of gas prices will soon be behind us, the decline in the price of oil is likely reflecting the possibility of a coordinated global release of oil from strategic reserves.
“If that doesn’t happen, oil could again rally,” De Haan said. “However, with COVID cases on the rise again reducing global demand, it does seem the most likely outcome will be a drop in gas prices that could last several weeks.”
GasBuddy is the authoritative voice for gas prices and the only source for station-level data spanning nearly two decades. 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.
