VIRGINIA BEACH — Gas prices are laying low this summer with the national average for a gallon of regular going down one cent from a week ago to $3.16, according to AAA, matching the summer of 2021, the last time seasonal gas prices were this low.
Meanwhile, a low-pressure system off the Gulf Coast has the potential — albeit low — to strengthen, and it’s something to watch as it moves westward, AAA said, as tropical activity can have an effect on gas prices if there’s damage to refineries or if local flooding affects gasoline distribution or demand.
According to new data from the Energy Information Administration, gasoline demand decreased from 9.15 million barrels per day last week to 8.48 million. Total domestic gasoline supply increased from 229.5 million barrels to 232.9 million. Gasoline production decreased last week, averaging 9.1 million barrels per day.
Locally, the gas price average for the commonwealth Thursday was $2.99 — seven cents lower than a week ago and six cents lower than a month ago. In Hampton Roads, prices decreased seven cents to $2.99, which is 11 cents lower than a month ago and 43 cents lower than a year ago.
