Virginia ranks among least expensive gas prices in nation

Posted at 3:20 PM, Jul 09, 2018
and last updated 2018-07-09 15:20:22-04

HAMPTON ROADS, Va. – Virginia currently ranks ninth on a list of top ten states with the least expensive gas prices in the U.S.

The good news comes despite a slow rise in prices during the past week, according to AAA Tidewater.

Virginia has an average unleaded price of $2.62 per gallon; two cents higher than the week prior. The cost per gallon is well below the national average of $2.87.

Prices across the country have continued to climb, with only a dozen states experiencing decreases since last Monday.

“Demand for gasoline this summer remains very strong week-over-week, driving gas prices higher alongside rising crude prices,” said Georjeane Blumling, Vice President of Public Affairs for AAA Tidewater Virginia, in a press release.

The NYMEX WTI went up by 86 cents at the end of Friday’s formal trading session; closing at $73.80. The U.S. crude oil inventories saw a surprising increase by 1.3 million bbl last week, as well. This gain occurred due to many worldwide factors. Geopolitical factors in Libya, Iran and Venezuela could pose issues and potentially disrupt the global supply, experts say.

South Carolina holds the title as the state with the cheapest gas prices, with a $2.52 cost per gallon.