Gas prices continue to fall in Richmond

Someone pumping gas
Someone pumping gas(WVLT)
Published: Aug. 1, 2022 at 10:33 AM EDT
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RICHMOND, Va. (WWBT) - Average gas prices in Richmond continue to fall, according to GasBuddy.

In the last week, average prices have fallen 12.9 cents per gallon from a survey of 567 stations in Richmond.

“Prices in Richmond are 74.2 cents per gallon lower than a month ago and stand 90.6 cents per gallon higher than a year ago. The national average price of diesel has declined 14.8 cents in the last week and stands at $5.27 per gallon,” a release from GasBuddy said.

GasBuddy price reports show the cheapest gas in Richmond was $3.53 per gallon Sunday, while $4.89 was the most expensive. The lowest in the state was $3.39 per gallon, and $5.69 was the most expensive per gallon Sunday.

The national average has fallen 15.9 cents per gallon in the last week, averaging $4.17 Monday, GasBuddy reports.

“We continue to see average gas prices falling in every state, with the national average down for the seventh straight week. Even better, nearly 20 states have also seen their average decline to $3.99 or less, with over 70,000 stations now at that level or below,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “The outlook is for a continued drop in most areas, however, some supply tightness in areas of the Northeastern U.S. could push prices up slightly until inventories rise, or imports do. For now, Americans are seeing prices nearly 90 cents lower than their mid-June peak and are spending close to $330 million less on gasoline every day as a result. As long as oil prices hold at these levels or lower, we’ll see another decline in most areas this week.”

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