Gasoline prices in Virginia have fallen 3.4 cents per gallon in the past week, averaging $2.65/g yesterday, according to GasBuddy’s daily survey of 4,081 stations in Virginia. This compares with the national average that has fallen 4.7 cents per gallon versus last week to $2.83/g, according to GasBuddy.
The cheapest gas reported in Martinsville is $2.53 at the Exxon on East Church Street. The Kroger on Commonwealth and the CITGO and Liberty Street Market on Liberty Street are all at $2.55.
Including the change locally during the past week, prices yesterday were 37.3 cents per gallon higher than a year ago and are 2.4 cents per gallon higher than a month ago. The national average has dropped 1.6 cents per gallon during the last month and stands 39.6 cents per gallon higher than a year ago.
“Much of the country continues to enjoy broad decreases in gas prices as oil prices drop to $69 per barrel. In fact, with the exception of the West Coast where an earlier natural gas pipeline shut down caused prices to go up, nearly every state saw prices move lower,” said Patrick DeHaan, head of petroleum analysis at GasBuddy. “The Great Lakes has seen prices drop 30-50 cents per gallon at individual stations since the start of October, leading decliners. The fall relief that has been expected for weeks has finally arrived. Gasoline economics typically weaken shortly after summer, but we experienced somewhat of a delay due to concern over Iran sanctions and OPEC production, but seemingly the market has become more concerned with other factors, and thus far, the effect on motorists has been lower gas prices. While Great Lakes states may see prices bounce of current lows in the week ahead, much of the rest of the country will likely see additional downward movement,” DeHaan added.