VIRGINIA BEACH, VA (September 13, 2018) – As Hurricane Florence inches closer to the East Coast, gas prices remain steady. One of the reasons may be the increase in domestic gasoline stocks for the region. Today’s price for gas in Virginia is $2.62, which is a penny more than Monday. The price for gas has remained steady in the Commonwealth for three consecutive weeks. In Hampton Roads, the gas prices reflect the state average at $2.62 per gallon.
“As Virginia residents prepare for the storm ahead, gas is an integral part of that process. The growth of the domestic gasoline stocks is a relief to those heading to the pump,” said Georjeane Blumling, spokesperson for AAA Tidewater Virginia.
Total gasoline stocks around the country grew by 1.3 million bbl last week, according to the Energy Information Administration. At 235.9 million bbl, stocks are 17.6 million bbl higher than were they were this time last year. Moreover, stocks in in the East Coast (PADD 1) grew slightly last week to 66.8 million bbl, which is 12 million bbl higher than were they were last year at this time. The additional barrels of gasoline may provide a slight price and supply buffer as Hurricane Florence hits the region. However, even if there is adequate supply in light of demand – which will drop after the storm – power outages, flooding and intense rainfall may still hamper gasoline deliveries and dispensing at local gas stations impacted by the storm.
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.
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