VIRGINIA BEACH — The national average for a gallon of gas fell to a 2023 low of $3.06 on Dec. 18, only to rebound six cents to $3.12 — the first weekly increase since September according to AAA.
“Yukon Cornelius knows that Bumbles bounce, and evidently, so do gas prices,” said Ryan Adcock, AAA Tidewater spokesperson. “Daily gas prices will likely move back and forth for the next month or so. Looking back at pre-pandemic 2019, the national average did not make a firm turn to moving higher daily until Valentine’s Day, Feb. 14.”
According to new data from the Energy Information Administration (EIA), gas demand dipped slightly from 8.86 million to 8.75 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased slightly by 2.7 million barrels to 226.7 million.
According to AAA, robust gas demand and elevated oil prices have jolted pump prices as the U.S. enters winter, and with drivers heading to their holiday destinations, they may continue to see pump prices fluctuate slightly during this heavy travel season.
Thursday’s national average of $3.12 was two cents more than a week ago, 17 cents less than a month ago, and two cents more than a year ago.
Locally, the gas price average for the Commonwealth stayed the same at $2.99 — the same price as a week ago and 13 cents lower than a month ago. In Hampton Roads, prices increased three cents to $2.97, 11 cents lower than last month and 10 cents higher than a year ago.
