Average price of gas in Virginia increases by 18 cents in one week

RICHMOND, Va. (WRIC) — The average price of a gallon of gas in Virginia has seen a significant increase in the last week.

According to the American Automobile Association, as of Monday, Oct. 10, the average price of a gallon of gas in Virginia is $3.49, the same as it was this time last month but 18 cents higher than this time last week.

AAA says the increase is partly due to the recent OPEC+ announcement that the group would be decreasing oil output by two million barrels a day, bringing the price of oil above $90 a barrel for the first time in several weeks.

According to the Energy Information Administration, demand for gas has also increased across the country in the last week, from 8.83 million barrels per day to 9.47. The total domestic supply has reportedly seen a significant decrease as well.

The Fredericksburg area has seen Virginia’s largest increase in gas prices this week, with the average having increased by 28 cents, followed by Richmond with its average increasing by 25 cents.

The average price of gas in Virginia increased faster this week than the national average, which rose by 12 cents. California still has the nation’s highest average gas prices, with the average gallon of gas going for $6.33 in the Sunshine State.

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