VIRGINIA BEACH — In the lull between spring travel and the kick-off to summer, AAA said gas demand slid week over week, dropping the national average three cents to land at $3.15 and dropping the average across Virginia five cents.
OPEC+ — the group of oil-producing countries — announced Saturday that it will increase output again in June, widening the supply surplus, which could cause crude prices to continue to fall. AAA said this means roadtrippers would see lower prices at the pump this summer. The national average is nearly 49 cents less than it was one year ago today.
According to new data from the Energy Information Administration (EIA), gasoline demand decreased from 9.09 million barrels per day last week to 8.71 million. Meanwhile, the total domestic gasoline supply slightly increased from 225.5 million barrels to 225.7 million. Gasoline production decreased last week, averaging 9.7 million barrels per day.
Locally, the gas price average for the commonwealth Thursday was $3. Thursday’s price was four cents lower than a week ago and six cents higher than a month ago. In Hampton Roads, prices decreased five cents to $2.97, which is the same as a month ago and 56 cents lower than a year ago.
