RICHMOND, Va. — Virginia gas prices have climbed 35 cents in just one week, and multiple factors suggest drivers could see even higher costs at the pump in the weeks ahead.
The state's average gas price is up 7 cents from yesterday and remains 15 cents below the national average, but relief does not appear to be on the way.
This week, President Trump asked for assistance in opening the Strait of Hormuz, the waterway through which 20% of the world's oil supply passes. However, the European Union — all 27 of America's closest allies — has decided against helping.
Several seasonal and logistical pressures are also pushing prices higher, according to experts.
"Not only do we have to weigh the issues in the Middle East, there are also the seasonal factors that push prices up every spring. Gasoline demand starts to go up as warmer weather hits, spring break travelers hit the road. We're also beginning the transition of the summer blend switchover, that is, we use a different version of gasoline in the warmer weather as required by the EPA," said Patrick De Haan, the head of petroleum analysis at GasBuddy. "And while those two things are happening, we're also contending with refineries that do normal maintenance during the late winter early spring, before the start of the summer. That also limits how much gasoline they can supply as all this is happening."
Some experts are also expecting rising gas prices to push up the prices of other goods.
For drivers looking to save money now, there are several steps to consider. Joining fuel rewards programs and shopping around for the lowest prices using a savings app like GasBuddy can help. Avoiding idling when possible and planning errands in a single trip outside of rush hour can also reduce how much fuel you use.
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