VIRGINIA BEACH — As drivers settle into their fall routines, gas demand is going down, and eventually, pump prices should follow suit, according to AAA.
The national average for a gallon of regular is down about a penny to $3.19, and AAA saus there remains an abundance of crude oil supply which is outweighing demand. The seasonal transition to winter-blend gasoline — which is cheaper to produce — is also beginning.
While the national average has been relatively stable, drivers in the Pacific Northwest are feeling pain at the pump, however, as gas prices in the area have jumped more than 20 cents in the past week due to the shutdown of a major pipeline that transports fuel from Washington to Oregon. AAA said the pipeline is reportedly expected to resume operations in a few days.
According to new data from the Energy Information Administration, gasoline demand decreased from 9.11 million barrels per day last week to 8.50 million. Total domestic gasoline supply increased from 218.5 million barrels to 220 million. Gasoline production decreased last week, averaging 9.6 million barrels per day.
Locally, the gas price average for the commonwealth Thursday was $3 — one penny higher than a week ago and two cents lower than a month ago. In Hampton Roads, prices increased two cents to $3.04, which is three cents lower than a month ago and six cents higher than a year ago.
