VIRGINIA BEACH — The national average for a gallon of gas is stuck in neutral and has not budged since last week to stay at $3.06, according to AAA.
Meanwhile, today’s national average per kilowatt hour of electricity at a public EV charging station remained at 34 cents, the same amount for almost five months, it added.
“Looking back at 2024, the high point for the national average was $3.67 on May 19, and the low was $3.01 on Dec. 10,” said Ryan Adcock, AAA Tidewater spokesperson. “If the national average follows seasonal norms, it will probably waffle up and down by a few cents for the next two months.”
According to new data from the Energy Information Administration (EIA), gasoline demand rose from 8.16 million barrels per day last week to 8.48 million. Meanwhile, total domestic gasoline stocks soared from 231.4 million barrels to 237.7 million, while gasoline production decreased last week, averaging 8.9 million barrels daily. The retail price for regular-grade gasoline averaged $3.30 per gallon in 2024, 21 cents less than in 2023, AAA said.
The EIA also reported that the United States produced more crude oil than any other nation in the six years 2018-23. Last year’s numbers are still being crunched, but the trend will likely continue, AAA said. Crude oil production in the United States averaged 12.9 million barrels per day in 2023, breaking the previous U.S. and global record of 12.3 million in 2019. The EIA says the 2023 oil production record is unlikely to be broken by another country anytime soon.
Today’s national average for a gallon of gas is $3.06, five cents more than a month ago and a penny less than a year ago, AAA reported.
Locally, the gas price average for the Commonwealth increased to $2.94. Thursday’s price is one penny higher than a week ago and five cents higher than a month ago. In Hampton Roads, prices increased eight cents to $2.85, which is eight cents higher than a month ago and seven cents lower than a year ago.
