Not much reprieve at the pump to start May off as Virginia’s current gas price is at $2.73, a two-cent uptick from last week and a $1.06 increase from last year, AAA Tidewater reported on Monday.
In some areas of the commonwealth, gas prices are cheaper than the state average such as Hampton Roads at $2.67. However, gas prices are only a few cents more than in May 2019 and 2018. The national average is seeing a similar pattern with the average at $2.90, three cents more than a month ago.
Stable crude oil prices amid fluctuating demand helped keep the national average price jumps nominal last month.
“While April saw minimal fluctuation, May is likely to see much larger increases alongside demand spikes, especially closer to Memorial Day weekend,” said Holly Dalby, spokesperson for AAA Tidewater. “Compared to May 2019, U.S. gasoline demand is down only 4 percent and gas prices are on average just two cents more.”
Summer fuel supply
Last week, media reports surfaced that a...
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