Motorists Are Experiencing Gas Price Hike Unseen Since 2011

Gas Prices
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VIRGINIA BEACH, VA (June 25, 2014) – Gas prices in Virginia have risen for 11 consecutive days beginning on June 15. Across the Commonwealth the average price for regular unleaded gas is currently $3.49. This is nine cents higher than last year on this date and a dramatic 28 cents higher than in 2012. In Hampton Roads, gas prices have also risen for 11 consecutive days with the average price currently at $3.57 per gallon. This is 17 cents higher than last year and 34 cents higher than 2012.

As we approach the end of the first full month of the 2014 summer driving season, the national price for regular unleaded gasoline is $3.68 per gallon; this is the highest price for early summer in six years. The average price at the pump has increased for 12 consecutive days for a total of four cents per gallon, narrowing the gap between the current retail price and the 2014 peak of $3.70 per gallon reached on April 28. Today’s average is two cents more than one week ago, three cents more than one month ago, and motorists are paying 11 cents more per gallon than a year ago.

Violence keyed by the militant group known as ISIS (the Islamic State in Iraq and the Levant) has continued to expand toward southern Iraq, where the majority of the country’s oil production is located. These concerns have helped to increase global oil prices, which makes it more expensive to produce gasoline. AAA had previously predicted that the national average price of gas would fall 10-15 cents per gallon in June, but that now appears unlikely due to higher oil costs. This means that even though the national average has only increased a few cents per gallon since the Iraq violence intensified, drivers are likely to pay substantially higher gas prices than they would have otherwise.

Let AAA find the lowest gas prices

Drivers equipped with the AAA TripTik® Mobile iPhone application can find the lowest gas prices close to home or on the road. Using AAA TripTik® Mobile, the first free app offering frequently updated gas prices, motorists can compare fuel costs at stations near to their location or in a specified area. The AAA app’s GPS technology enables users to quickly locate stations on a map and see the price for all available grades of gasoline. AAA also provides gas station location and fuel price information at AAA.com with the online TripTik® Travel Planner.

As part of North America’s largest motoring and leisure travel organization, AAA Tidewater Virginia provides its more than 325,000 members with travel, insurance, financial and automotive-related services. Since its founding AAA Tidewater Virginia has been a leader and advocate for the safety and security of all travelers.  For more information, visit AAA.com and follow us on Twitter at Twitter.com/AAATidewaterVA or on Facebook at facebook.com/AAATidewaterVirginia