VIRGINIA BEACH — Pump prices are still falling, but at a slower pace than recently, dipping just two cents to $3.36 since last week, according to AAA.
“Both state and regional pump prices have fallen ahead of the long Labor Day weekend,” said Ryan Adcock, AAA Tidewater spokesperson. “And the arrival of September means cheaper winter-blend gasoline is almost here, which always helps take pressure off pump prices.”
AAA said a slight uptick in gas demand may reflect the last hurrah for summer travelers, and a storm system forming in the Atlantic may threaten falling gas prices, as well.
According to new data from the Energy Information Administration (EIA), gas demand rose last week from 9.19 million barrels per day to 9.30 million. Meanwhile, total domestic gasoline stocks fell from 220.2 million to 218.4 million barrels, and gasoline production decreased last week, averaging 9.6 million barrels daily. Unspectacular gasoline demand and falling oil costs may cause pump prices to slide further, AAA said.
Today’s national average for a gallon of gas is $3.36, 14 cents less than a month ago and 46 cents less than a year ago.
Locally, the gas price average for the Commonwealth decreased to $3.22. Thursday’s price is four cents lower than a week ago and 16 cents lower than a month ago. In Hampton Roads, prices decreased five cents to $3.09, which is 21 cents lower than last month and 54 cents lower than a year ago.
