VIRGINIA BEACH — The month of February is kicking off with slightly higher gas prices nationally, according to AAA, with the national average for a gallon of regular up a couple of cents from last week at $2.89.
Gasoline demand is down, as fewer drivers hit the road during the recent winter storms. But this is the time of year when pump prices start nudging higher, AAA noted, as spring approaches and refineries start making the switch to summer-blend gasoline production.
Current prices remain below what they were this time last year, when the national average was $3.12.
According to new data from the Energy Information Administration, gasoline demand decreased last week from 8.75 million barrels per day to 8.15 million. Total domestic gasoline supply increased from 257.2 million barrels to 257.9 million. Gasoline production decreased last week, averaging 9.0 million barrels per day.
Locally, the gas price average for the Commonwealth Thursday was $2.86. Thursday’s price is five cents higher than a week ago and 12 cents higher than a month ago. In Hampton Roads, prices increased seven cents to $2.92, which is 22 cents higher than a month ago and eight cents lower than a year ago.
