RICHMOND, Va. — Have you noticed the surge in gas prices over the past week?
Average gasoline prices in Richmond have risen more than 20 cents per gallon in the last week, now averaging $3.08 per gallon, according to GasBuddy's survey of 567 stations in Richmond.
"With Israel and Iran trading attacks, oil prices have surged to multi-month highs—setting the stage for additional price hikes at gas pumps across the country," Patrick De Haan, head of petroleum analysis at GasBuddy, said. "As long as tensions in the Middle East continue to escalate, the risk of further impacts on oil prices remains high."
De Haan said it's likely prices will continue to increase.
"For now, I expect gas prices could rise by 10 to 20 cents, while diesel could climb 15 to 25 cents in the coming days," he said. "Prepare for what will likely be modest price increases—for now—but the situation has the potential to worsen at any moment."
While the 20-cent price jump might be jarring, prices are only slightly higher than a month ago, up 2.2 cents per gallon and remain 32.6 cents per gallon lower than this time last year.
The cheapest Richmond-area gas station was priced at $2.69 per gallon on Sunday, while the most expensive charged $3.49 per gallon.
Across Virginia, the price range is even wider, with the lowest price in the state at $2.59 per gallon and the highest reaching $3.99 per gallon, creating a $1.40 per gallon difference.
Meanwhile, the national average price of gasoline has seen a smaller increase of 1.1 cents per gallon in the last week, also averaging $3.08 per gallon. This national average is down 9.5 cents per gallon from a month ago and 32.7 cents per gallon lower than a year ago. The national average price of diesel has increased 4.0 cents in the last week and stands at $3.49 per gallon.
Historical gasoline prices in Richmond and the national average going back ten years:
June 16, 2024: $3.40/g (U.S. Average: $3.41/g)
June 16, 2023: $3.29/g (U.S. Average: $3.55/g)
June 16, 2022: $4.92/g (U.S. Average: $5.01/g)
June 16, 2021: $2.94/g (U.S. Average: $3.08/g)
June 16, 2020: $1.86/g (U.S. Average: $2.10/g)
June 16, 2019: $2.41/g (U.S. Average: $2.67/g)
June 16, 2018: $2.65/g (U.S. Average: $2.89/g)
June 16, 2017: $2.07/g (U.S. Average: $2.29/g)
June 16, 2016: $2.14/g (U.S. Average: $2.36/g)
June 16, 2015: $2.53/g (U.S. Average: $2.81/g)
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