VIRGINIA BEACH — The national average for a gallon of gas popped two pennies higher to $3.21 since last week as large swaths of the country deal with severe back-to-back storm damage.
Like Hurricane Helene, Milton will not severely impact national gasoline supplies but will affect demand in areas with destroyed infrastructure, flooded roads, and power outages, according to AAA.
Overseas, the tension between Iran and Israel continues, which is causing a slow wobbling in the price of oil but no steady upward movement, it added.
“All this terrible weather lately could cause regional prices to rise as drivers flock to the few open stations with gas,” said Ryan Adcock, AAA Tidewater spokesperson. “But as roads are cleared and power is restored, stations will be able to be re-supplied, so any upward pressure on prices should be fleeting.”
According to new data from the Energy Information Administration (EIA), gas demand surged from 8.52 million barrels per day last week to 9.65 million. Meanwhile, total domestic gasoline stocks plunged from 221.2 million barrels to 214.9 million, with gasoline production increasing last week, averaging 10.2 million barrels daily.
Thursday’s national average for a gallon of gas was $3.21, 5 cents less than a month ago and 47 cents less than a year ago.
Locally, the gas price average for the Commonwealth increased to $3.12. Thursday’s price was 14 cents higher than a week ago and one penny higher than a month ago. In Hampton Roads, prices increased eight cents to $2.99, the same as a month ago and 38 cents lower than a year ago.