AAA: Gas prices continue to decrease locally, nationwide

Posted at 6:59 PM, Jul 27, 2022
and last updated 2022-07-27 18:59:48-04

VIRGINIA BEACH, Va. - Prices at the pump are falling again as the demand for gas decreases and oil prices lower.

According to AAA, national gas prices are down 17 cents since last week to $4.35. The price of gas has now fallen every day since hitting a record $5.01 on June 14. Today’s national average of $4.35 is 63 cents less than a month ago and $1.20 more than a year ago.

“Consumers appear to be taking the pressure off their wallets by fueling up less,” said Ryan Adcock, AAA Tidewater public relations specialist. “And there’s reason to be cautiously optimistic that pump prices will continue to fall, particularly if the global price for oil does not spike. But the overall situation remains very volatile.”

If gas demand remains low as stocks increase, AAA says drivers will likely continue to see pump prices decline.

Locally, prices across Virginia fell for the sixth straight week landing at $4.13. This is $0.73 lower than the highest state average of $4.86, which we reached on June 14.

In Hampton Roads, prices decreased 18 cents to $4.12, which is 71 cents lower than last month but $1.15 higher than a year ago.

July 25, 2022Week AgoMonth AgoYear Ago
Hampton Roads$4.12$4.30$4.83$2.97