After weeks of rising gas prices in the state, gas prices have been steady for the last five days. Pump prices averaging $2.76, have not been this high since May 2018 in Virginia.
Monday’s average is 22 cents higher than last month and 79 cents higher than last year, according to AAA Tidewater Virginia.
“A dip in demand along with a simultaneous increase in supply and refinery utilization has contributed to slower movement in gas price increases,” said AAA Tidewater spokesperson Holly Dalby. “In the week ahead, motorists can expect fluctuation at the pump. However, large jumps are not likely for the majority of consumers.”
In its latest weekly reports, the Energy Information Administration shows demand decreased from 8.7 million barrels/day to 8.4 million barrels/day, indicating that Americans are slowly returning to the road, likely due to more schools opening and spring break. Further, supply increased from 231.6 million barrels to 232 million barrels. While still one of th...
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