Pumping gas

Will the Price of Gas Dip Further?

The national average price of gas has held relatively steady over the past week and has declined on just one of the past four days. The national average price for regular unleaded gasoline is $2.12 per gallon, which is the lowest price for this date since 2004 and 26 cents below 2016’s peak price to date of $2.40 on June 11. Today’s price is one cent less than one week ago, 12 cents less than one month ago and 48 cents less than the same date last year.

Pump prices in the Mid-Atlantic and Northeast continue to drop at a steady rate, with prices across the region falling a couple of cents over the past week. Virginia gas prices has fallen 59 out of the past 60 days for a total of 29 cents per gallon and remains one of the lowest places in the country to buy gasoline at $1.91 per gallon. Today’s average price for gasoline in Virginia is two cents less than last week, 16 cents less than a month ago and 49 cents less than this same day last year.   (more…)

Gas prices

National pump prices have fallen 50 of the past 51 days for a total of 25 cents per gallon. The national average price for regular unleaded gasoline has declined to $2.13 per gallon, which is the lowest level in the past 100 days and the lowest price for this date since 2004. Today’s price is three cents less than one week ago, 15 cents less than one month ago and 52 cents less than the same date last year.  (more…)

Pumping gas

Pump prices are holding relatively steady and remain at their lowest levels for this time of year since 2005. Today’s price of $2.31 per gallon represents a savings of three cents per gallon on the week and two cents per gallon on the month. Year-over-year drivers continue to benefit from noticeable discounts in the price to refuel their vehicles, and prices are down 47 cents per gallon versus this same date last year.

This year’s summer driving season is likely to set new records for both gasoline demand and vehicle miles traveled, and the latest data from the U.S. EIA shows that gasoline demand is currently at an all-time high. Strong demand can put additional pressure on refineries, and their ability to sustain output and keep gasoline flowing to markets directly impacts the price consumers pay at the pump. However, refineries are reportedly increasing output and gasoline supply has more than kept pace with growing demand. In fact, the refinery utilization rates reached its highest level since April and gasoline inventories posted an increase in the face of these record numbers. Gas prices have fallen for 16 consecutive days, and if the market can remain adequately supplied drivers are likely to continue paying prices unseen for the summer months in more than a decade.

REMINDER: You can find where the lowest gas prices are in Alexandria, Virginia 24/7 via this link.

Gas prices

Average U.S. Gas Prices Climb to 2016 High

The national average price of gas reached a new 2016 high over the weekend, and today’s average of $2.38 per gallon is the most expensive average since September 2015. Gas prices have moved higher by two cents per gallon on the week and 16 cents per gallon on the month. Although pump prices have increased for 28 of the past 33 days, consumers continue to benefit from yearly savings and prices are down 42 cents per gallon compared to a year ago.

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Pumping gas
Tightening supply combined with strong gasoline demand contributed to pump gas prices higher over the past week across the United States. Today’s average price of $2.36 per gallon represents an increase of four cents per gallon since last week’s Memorial Day Holiday, and drivers are paying 14 cents per gallon more than one month ago to refuel their vehicles. Year-over-year discounts persist due to crude oil prices remaining relatively low, but discounts are beginning to narrow and have closed to 40 cents per gallon versus this same date last year. Additional information about the price at the pump can be accessed on the newly released AAA Gas Prices website, which includes enhanced features and a fresh design.

Drivers are taking to the roads at a record-setting pace, and gasoline demand remains on target to reach unprecedented highs during this year’s summer driving season. Gasoline production is reportedly keeping pace with growing demand, yet unexpected events with production or distribution could lead to higher prices given the fact that millions of Americans are taking road trips this month.

The national average moved higher for 25 of the past 26 days, for a total increase of 25 cents per gallon. The nation’s top five most expensive markets are: California ($2.83), Hawaii ($2.71), Alaska ($2.65), Washington ($2.62), and Michigan ($2.60). Today’s average is the lowest for this time of year since 2005.

REMINDER: You can find the lowest prices in the Alexandria, Virginia area online on our website 24/7.

Gas prices

How high will gas prices go in Alexandria, Virginia?

At this point in the year, gas prices are at their highest in 2016. Here’s a photo from the Holmes Run area gas station I snapped over the weekend. As you can see premium gas is now over $3.00 a gallon in Alexandria, Virginia.

According to the New York Times, declining oil supplies have led to a near doubling of crude prices since early February. On Thursday, the world’s benchmark prices breached $50 a barrel, and for the first time since last August prices for regular gasoline have risen above $2 a gallon in all 50 states.

REMINDER: You can use this map on our website to find the lowest gas prices in Alexandria 24/7.

Chesapeake Bay Bridge Toll Booth Line

Gas Prices Hit 2016 Highs

Gas prices are at their highest point for the year as we approach the Memorial Day holiday, and the national average has increased for 12 days in a row. Today’s average of $2.28 per gallon is up six cents per gallon on the week and 15 cents per gallon on the month. Despite this increase, drivers remain on target to pay the lowest prices for the Memorial Day holiday since 2005. AAA projects more than 38 million Americans will travel this Memorial Day weekend, which is an increase of 700,000 compared to a year ago. That is the second-highest Memorial Day travel volume on record and the most since 2005. Nearly 34 million (89 percent) holiday travelers will drive to their Memorial Day destinations, an increase of 2.1 percent over last year.

Gas Prices

(Chesapeake Bay Bridge Toll Booth Line by Susan Smith, on Flickr)

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