HAMPTON ROADS, Va. - Good news for families who plan to travel this weekend; gas prices are on the decline!
After Hurricane Harvey hit the Gulf Coast, the nation saw a major spike. But now that oil refineries are back online, the prices are going down.
Now, it might only be a few cents lower than yesterday or last week, but the downward trend is a good sign. According to AAA, a $.15 to $.25 spike was anticipated but many states actually saw a $.30-$.40 increase instead.
According to the gas calculator on the AAA website, the average price for a gallon of regular gas here in the Commonwealth is $2.51. That's only 2 cents lower than last week, but at least it's less.
Hurricane Harvey took 19% of the nation's oil refineries offline, but those workers have headed back to work and now the oil and gas should start moving from state to state.
AAA said it could be awhile before we see prices drop closer to $2.00 a gallon but the EPA did allow refineries to start making winter blend after Harvey. Winter blend is less expensive to refine than summer blend so the early switch to winter blend could also help your wallet.
Right now oil companies said they are trying to make up for lost time, refining as pushing out at much as product as possible to reap the profits.