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Lower demand results in gas prices continuing to drop

Gasoline demand, according to the Energy Information Administration, back-tracked for the week ending Oct. 9, decreasing from 8.90 million barrels per day to 8.58 million. Lower demand, even as total domestic stocks decreased by 1.6 million barrels/day to 225.1 million and imports fell to their lowest rate since Sept. 18, has contributed to pump price decreases for the majority of the country, AAA announced Monday.

“Today’s national average is $2.16, which is two cents less than a week and month ago and 49 cents cheaper than last year,” said AAA spokesperson Holly Dalby. “Decreases in U.S. gasoline demand, supply and imports pushed the national and 44 state gas price averages cheaper on the week.”

In Virginia, prices continue to dip with some gas stations selling below $2 per gallon. In Hampton Roads, prices dropped another penny for the third week in a row to $2.01 Monday.

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