VIRGINIA BEACH — As spring break travel winds down, gas prices are following suit, down five cents since last week, according to AAA.
Softer demand is fueling the downward trend, it added, and with crude as low as it’s been in a few years, drivers may continue to see lower pump prices as summer approaches.
According to new data from the Energy Information Administration, gasoline demand increased slightly from 8.42 million barrels per day last week to 8.46 million. Meanwhile, total domestic gasoline supply decreased from 236.0 million barrels to 234.0 million barrels. Gasoline production increased last week, averaging 9.4 million barrels per day.
Locally, the gas price average for the Commonwealth today is $3.04. Thursday’s price is two cents lower than a week ago and 16 cents higher than a month ago. In Hampton Roads, prices decreased six cents to $3.02, which is 14 cents higher than a month ago and 52 cents lower than a year ago.
