ROANOKE (WSLS 10) -AAA Mid-Atlantic reports the kickoff of the summer driving season has drivers paying the lowest gas prices for this time of year in more than a decade, as gas prices for the Memorial Day holiday were the cheapest since 2005 and were down 42 cents per gallon versus last year's holiday.
Sunday's average price of $2.36 per gallon represents an increase of four cents per gallon on the week, and 14 cents more per gallon on the month. According to AAA-Mid-Atlantic, for the first time in 36 weeks the retail cost of gasoline is above $2 a gallon in all regions of the USA.
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According to the U.S. Energy Information Administration (EIA), implied gasoline demand hit nearly 9.4 million barrels per day in March, the highest ever level for the month, and the highest since August 2015.
CURRENT AND PAST GAS PRICE AVERAGES
Regular Unleaded Gasoline (*indicates record high)
Today 6/5/16 | Week Ago 5/29/16 | Year Ago 6/5/15 | |
National | $2.36 | $2.32 | $2.76 |
Virginia | $2.20 | $2.16 | $2.54 |
Charlottesville | $2.17 | $2.15 | $2.52 |
Norfolk Area | $2.20 | $2.15 | $2.55 |
Richmond | $2.17 | $2.12 | $2.49 |
Roanoke | $2.15 | $2.13 | $2.47 |
Crude Oil | $48.62 |
per barrel
(Friday 5/27/16 close)
per barrel
(6/5/15)
Martha Meade, Manager of Public and Government Affairs for AAA Mid-Atlantic says lower gas prices this summer are expected to encourage higher numbers of summer travelers. "Lower prices at the pump have contributed to the largest year-over-year growth in vehicle miles traveled in the Northeast. This growth in demand appears to be offset by the region's abundant supply, which should help keep a lid on prices as we enter the busy summer driving season."