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Gas prices begin to decline

Prices at the pump have begun to drop in the commonwealth, giving hope to motorists that the trend will continue, according to a press release from AAA Tidewater.

This would be the first-time prices have started to drop in months since the year 2021 began. At $2.73, Virginia’s average has decreased by three cents since last week. Other states have begun to see a drop in gas prices as well, dropping the national average two cents from $2.88 last week resting at $2.86 today.

“Growing stock levels and cheaper crude oil prices are putting downward pressure on pump prices for the majority of motorists,” said Holly Dalby, director of public affairs for AAA Tidewater Virginia. “These are positive signs that less expensive gas prices could be around the corner, but not enough to indicate a steady trend just yet.”

Demand is one factor influencing gas prices. If demand continues to increase, prices could follow. Gasoline stocks also saw a moderate increase with a build of 200,000 barre...

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