Virginia’s changing gas prices and how we compare nationwide

(STACKER) — U.S. crude oil futures fell this week extending losses of nearly 7%. Fears of a drop in fuel demand stemming from Shanghai’s COVID-19–related lockdown have contributed to falling oil prices, along with peace talks between Ukraine and Russia.

Today, Pres. Biden ordered the release of 1 million barrels of oil per day from the nation’s strategic petroleum reserve, a measure that will last for six months.

Members of the Organization of the Petroleum Exporting Countries (OPEC) and allies will meet today to discuss a planned production increase of 432,000 barrels per day. The group is expected to modestly increase oil production beginning in May, despite a call for even greater output.

The global market will be paying close attention to any positive headlines coming out of the meeting that may signal supply relief, but experts say it is unlikely.

And earlier this month, oil prices plummeted when the United Arab Emirates’ ambassador to Washington said the country, an OPEC member, wanted to increase oil production.

With these recent updates in mind, here are statistics on how Virginia’s gas prices are fluctuating and where we stack up against the rest of the nation:

Virginia by the numbers
– Current price: $4.12
– Week change: +$0.02 (+0.6%)
– Year change: +$1.39 (+51.1%)
– Gas tax: $0.16 per gallon (#48 highest among all states)
– Historical expensive gas price: $4.26 (3/11/22)

Metros with most expensive gas in Virginia
#10. Lynchburg: $4.05
#9. Bristol-Scott-Washington: $4.06
#8. Richmond-Petersburg: $4.09
#7. Norfolk-Virginia Beach-Newport News: $4.13
#6. Staunton-Waynesboro: $4.15
#5. Winchester: $4.15
#4. Charlottesville: $4.16
#3. Blacksburg-Christiansburg-Radford: $4.18
#2. Harrisonburg: $4.19
#1. Washington, DC, (VA Only): $4.21

States with the most expensive gas
#1. California: $5.92
#2. Nevada: $5.25
#3. Hawaii: $5.15

States with the least expensive gas
#1. Missouri: $3.79
#2. Kansas: $3.80
#3. Oklahoma: $3.81

States with the highest gas tax per gallon
#1. Pennsylvania: $0.59
#2. California: $0.53
#3. Washington: $0.52

States with the lowest gas tax per gallon
#1. Alaska: $0.0895
#2. Hawaii: $0.16
#3. Virginia: $0.162

METHODOLOGY

Stacker compiled statistics on gas prices in Virginia using data from AAA. Gas prices are as of March 29. State gas tax data is from World Population Review. Three states, Connecticut, Georgia, and Maryland, have temporarily suspended gas taxes to help consumers while the cost of gas has increased.

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