Despite gasoline demand dropping and inventories growing, according to the latest Energy Information Administration data, the national gas price average has increased three cents on the week to land at $2.88 – a pump price not seen at the national average since mid-July.
While Virginia gas prices are also on the rise, the price of gasoline in the commonwealth is much cheaper than most of the country as Virginia is the fifth lowest nationwide at $2.62 per gallon.
“This is the time of year we typically see gas prices fall, however with current global supply and demand concerns and higher crude oil prices, motorists are not seeing relief at the pump,” said Tammy Arnette, senior public affairs specialist for AAA. “The good news for Virginia drivers is even with the current rise in gas prices, Virginia is 5th lowest in the country to buy gasoline.”
Monday’s national gas price average ($2.88) is the most expensive for the beginning of October since 2014. The average is four cents more than a month ago and 32 cents more than a year ago.