VIRGINIA BEACH — The summer driving season is underway, and while gas prices normally peak this time of year, AAA said drivers are getting a reprieve.
The national average for a gallon of regular is $3.14, down two cents from last week, according to AAA. Pump prices are 36 cents cheaper than last June, thanks to this year’s consistently low crude oil prices. Currently, oil supply in the market is outweighing demand, and the association notes June gas prices haven’t been this low since 2021.
According to new data from the Energy Information Administration, gasoline demand decreased from 9.45 million barrels per day last week to 8.26 million. Total domestic gasoline supply increased from 223.1 million barrels to 228.3 million. Gasoline production decreased last week, averaging 9 million barrels per day.
Locally, AAA’s gas price average for the Commonwealth Thursday was $2.93. Thursday’s price is five cents lower than a week ago and eight cents lower than a month ago. In Hampton Roads, prices decreased six cents to $2.93, which is three cents higher than a month ago and 42 cents lower than a year ago.
