VIRGINIA BEACH — AAA said the national average for a gallon of gas dropped six cents since last week to $3.24 due to low demand and falling oil costs.
“There are an ever-increasing number of states east of the Rockies that have some retail gas locations selling regular for under $3 a gallon, so drivers will have more in their wallets with autumn approaching,” said Ryan Adcock, AAA Tidewater spokesperson. “Should the national average fall below $3, it will be the first time since May 2021.”
According to new data from the Energy Information Administration (EIA), gas demand fell last week from 8.93 million barrels per day to 8.47 million, while, total domestic gasoline stocks rose 219.2 million barrels to 221.6 million. Gasoline production decreased last week, averaging 9.4 million barrels per day, and tumbling gasoline demand and oil costs will likely keep pump prices sliding, according to AAA.
Thursday’s national average for a gallon of gas is $3.24, 20 cents less than a month ago and 59 cents less than a year ago.
Locally, the gas price average for the Commonwealth decreased to $3.08. Thursday’s price is nine cents lower than a week ago and 26 cents lower than a month ago. In Hampton Roads, prices decreased seven cents to $2.97, which is 25 cents lower than last month and 58 cents lower than a year ago.
