2018 Kicksoff with Most Expensive Gas Prices in 4 Years

Gilmore Gas

VIRGINIA BEACH, Va., (January 3, 2018) – Virginia begins 2018 with gas prices on the rise. Motorists are paying more at the pump than they have paid in early January since 2014 when gas was averaging almost $3 a gallon. The current price for a gallon of gas in the Commonwealth is $2.29 which is four cents more than last week and a seven cent increase from last year. In other areas of the Commonwealth, gas prices are a bit lower. Hampton Roads, for example, is two cents lower than the state average at $2.27 per gallon which is a seven cent increase from last week and seven cents higher than last year.

At $2.49, the national gas price average is the most expensive seen at the start of a new year since 2014, when gas prices were more than $3/gallon. High travel volumes over the holidays drove gas prices up five cents on the week. At the start of 2018, motorists in the Northeast, South and the upper Midwest are seeing pump prices as much as 13 cents more expensive than last one week ago.

“Although prices at the pump shot up over the holidays, now that the holiday season in the rearview mirror, motorists can expect gas prices to trend cheaper this month as we are likely to see a significant drop in gasoline demand,” said Georjeane Blumling, AAA Tidewater Virginia spokesperson.

The latest Energy Information Administration (EIA) report measures gasoline demand at a strong 9.5 million b/d, which is typical of the holiday season. However, historical data shows that in early January demand typical drops and stays below the 9 million mark for the first few months of the year.

Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

As part of North America’s largest motoring and leisure travel organization, AAA Tidewater Virginia provides its more than 330,000 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 Facebook at facebook.com/AAATidewaterVirginia.