VIRGINIA BEACH — Falling by just three cents since last week, the national average for a gallon of gas hit $3.45, while the national and state averages for L2 commercial electricity remain the same as a week ago, according to AAA.
“With Tropical Storm Debby drifting up the I-95 corridor to visit the Mid-Atlantic and Northeast, the threat to Gulf Coast oil production and refining is over,” said Andrew Gross, AAA spokesperson. “But tensions in the Middle East and some overseas economic uncertainty may mitigate any drop in oil prices.”
With an estimated 1.2 million AAA members living in households with one or more electric vehicles, AAA has recently started listing the kilowatt-per-hour cost for Level 2 (L2) commercial charging by state. Thursday’s national average for a kilowatt of electricity at an L2 commercial charging station is 34 cents.
According to new data from the Energy Information Administration (EIA), gas demand fell from 9.25 million barrels per day to 8.96 million last week. Meanwhile, total domestic gasoline stocks rose from 223.8 million barrels to 225.1 million. Gasoline production increased last week, averaging 10.0 million barrels per day. Crude oil production hit an all-time high of 13.4 million barrels per day. Lower gasoline demand, rising supply, and stable oil costs may lead to sliding pump prices, AAA said.
Today’s national average for a gallon of gas is $3.45, five cents less than a month ago and 37 cents less than a year ago.
Locally, the gas price average for the Commonwealth increased a penny from last week but is three cents lower than a month ago. In Hampton Roads, prices decreased three cents to $3.24, which is two cents lower than last month and 46 cents lower than a year ago.
