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Local pump savings vanish

The national gas price average has been cheaper year-over-year for 336 days—as much as $1.12/gallon less. However, AAA predicts that trend will end as early as this week. At $2.42, the national average is only a nickel cheaper than a year ago.

“For nearly a year, motorists have been saving 53 cents a gallon, on average, when filling up their gas tanks. That extra pocket change is quickly going to dwindle thanks to rising crude oil prices that have made for more expensive pump prices,” said AAA Tidewater spokesperson Holly Dalby.

While cheaper year-over-year, the national average increased by two cents on the week and is now 17 cents more expensive than last month, the AAA said on Monday. The national average continued to climb this past week despite a drop in gasoline demand and refinery utilization. According to the latest Energy Information Administration measurements, demand declined from 8.11 million barrels/day to 7.83 million and total refinery utilization decreased from 8...

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