Tuesday, September 26, 2023

Prices at the pump expected to increase, hurting drivers in their wallets

The price of a gallon of gasoline has been on the rise in Greater Williamsburg since Hurricane Harvey hit Texas and Louisiana's oil operations. (Steve Roberts, Jr./WYDaily)
A Williamsburg gas station, seen here in August. (Steve Roberts, Jr./WYDaily)

As gasoline and crude oil exports increase, gas prices in Hampton Roads could rise as a result.

Motorists in Virginia are paying 3 cents less this week on average than last week, but 25 cents more than one year ago.

“Depending on where in the country you are filling up your tank, gasoline prices motorists may experience large increases on the week,” said AAA Tidewater Virginia spokeswoman Georjeane Blumling in a news release. “The price volatility can be attributed to the unexpected rise in gasoline and crude oil exports recently ahead of the spring season. Motorists should prepare to pay more at the pump.”

American exports of gasoline and crude oil jumped, according to the release, the trend before the spring driving season could be a signal that growing global demand for gasoline will cause refineries to produce more.

Prices at the pump can increase as petroleum exports increase, hurting drivers in their wallets.

AAA hosts a handy online gas price map and a free AAA Mobile app for iPhone, iPad and Android.

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