RICHMOND, Va. — It’s been a long time, but there is some good news to pass along about gas. The average prices per gallon of gas in Richmond is $2.98, the lowest since February 17, 2011, according to AAA Mid-Atlantic. Gas prices were 11 cents higher this time last year and peaked at $4.01 per gallon in July 2011.
“This is undoubtedly great news as Richmond has not seen gas prices average under $3 per gallon in over three years,” AAA Mid-Atlantic Public Affairs Specialist Tammy Arnette said.
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What factors have contributed to the decline in gas prices? AAA Mid-Atlantic cited the following:
- Less active hurricane season
- Demand goes down after summer
- Crude oil prices are trading under $100 per barrel
AAA Mid-Atlantic analysts expected gas prices to drop another 10-20 cents before the end of the year.
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