Gas experts: fill up before the holiday weekend - NBC12 - Richmond, VA News

Gas experts: fill up before the holiday weekend

Posted: Updated:
RICHMOND, VA (WWBT) -

There's something else to celebrate this weekend, besides our country's birthday- falling gas prices. Nationwide, gas prices have fallen for 21 straight days. Fuel is now below $3.50 a gallon for the first time since February. Around Richmond, the average is 20 cents cheaper, than that. It's good news for the near million Virginians expected to drive more than 50 miles for the Fourth.

"I think I'm going to head out to Virginia Beach, for a little fun in the sun," said Tamiya Twine, as she filled up her tank for the weekend.

Fuel expert Michael O'Connor, president of the Virginia Petroleum, Convenience and Grocery Association, says crude oil has dropped over the last month.

"(Gas prices) have been going down throughout most of the month of June," said O'Connor.

Before the holiday weekend is a good time to fill up your tank, since experts say prices might start to creep up as early as next week.

"Very likely, if not certain, that you're going to see higher prices," continued O'Connor.

That's because the ever-changing cost of crude oil just started shooting up, again. "We've seen crude oil prices go up $7 a gallon in the last week," continued O'Connor.

Once prices at the pump catch up, drivers could feel that pinch.

What you can depend on in Virginia, is the reduction of  the gas tax, which started Monday. It equals 6 cents less a gallon. However, drivers might not see that change, just yet. Fuel bought at the old tax rate has to cycle out.  Additionally, those rising crude oil costs may outweigh any relief from the tax break.

Currently, Virginia has the 13th cheapest gallon of regular in the country.

Copyright 2013 WWBT.   All rights reserved.

Powered by WorldNow