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Gas Prices Remain Stable in Virginia and West Virginia

Gas prices in Virginia hold steady as summer travel approaches.

News Summary

Gasoline prices in Virginia stay steady at $3.00 per gallon, a slight increase from last month but down significantly from last year. West Virginia’s gas prices hold at $3.014, just below the national average. Both states experience minimal fluctuations as summer travel approaches, offering relief to drivers. The diesel market shows a decrease in prices, contributing to overall fuel price stability as demand is expected to rise.

Virginia – Average gasoline prices in Virginia remain stable at $3.00 per gallon as of Tuesday. This price point marks a modest increase of 2.2 cents per gallon compared to a month ago. However, when compared to last year, gas prices in the state have significantly decreased by 45.3 cents per gallon, providing a welcome relief for drivers.

In West Virginia, the average gasoline price is slightly higher at $3.014 per gallon, unchanged since Memorial Day weekend. This price is marginally below the national average of $3.174 per gallon, according to the American Automobile Association (AAA). A comparison of West Virginia’s current gasoline prices with data from the previous year indicates that regular gas was priced at $3.495 last year, revealing a notable drop in prices year-over-year.

Current Trends in Gas Prices

According to a survey conducted by GasBuddy, there is a considerable variance in gas prices across Virginia. The cheapest gas station reported prices as low as $2.39 per gallon, while the most expensive station charged $3.99 per gallon, reflecting a significant $1.60 disparity in prices within the state.

Meanwhile, the national average price of gasoline has remained stable at $3.13 per gallon, a rise of 3.1 cents per gallon over the past month but a decrease of 43.0 cents per gallon compared to last year. The trend indicates a stabilization in fuel prices as the summer travel season approaches, despite the usual uptick in demand during holidays like Memorial Day.

West Virginia’s Gasoline Market

The average gasoline prices in West Virginia are consistent with previous weeks and months. The current statewide averages are: Regular $3.014, Mid-Grade $3.440, Premium $3.876, and Diesel $3.486. Notably, the price for regular unleaded gas recently experienced a minor increase from $2.996, while diesel fuel prices fell from $3.500.

Locally, gas prices in West Virginia show variation by metro areas, with the lowest prices reported in Huntington at approximately $2.923 per gallon, and the highest in Beckley at about $3.004 per gallon. These fluctuations can be attributed to local supply chains, transportation logistics, and refinery outputs, which tend to affect gas pricing across different towns and cities.

Impact of Seasonal Demand

The stabilizing of gas prices comes as a surprise to many, especially given the increased consumer demand anticipated around the Memorial Day weekend. Drivers in West Virginia are experiencing only minor fluctuations in fuel prices, which is a positive sign as the summer season kicks off. The steadiness in gas prices provides some relief at the pump, crucial for families looking to travel during the warmer months.

The diesel market has also seen changes, with the national average price for diesel decreasing by 3.2 cents in the past week to reach $3.476 per gallon. This shift reflects larger trends in the fuel economy that are expected to continue to stabilize as production ramps up during the summer months.

Conclusion

With average gasoline prices remaining largely unchanged post-Memorial Day weekend in both Virginia and West Virginia, consumers may find peace of mind as they prepare for summer travel. As prices remain stable, both states are potentially positioning themselves for a busy season ahead, which is often marked by typical spikes in fuel demand.