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Gas Prices in Virginia Steadily Increase

hand at gas pump

VIRGINIA BEACH, VA (January 19, 2021) – Prices at the pump continue to rise in Virginia by 30 cents since the first of the month. Currently, the average price for gas in the commonwealth is $2.30. The national gas price average is $2.38, a 13-cent increase. That is a nickel more than last week. However, still cheaper year-over-year by 17 cents. 

 

The last time the nation saw a substantial January pump price increase was in 2009. That year, the national gas price average jumped 23 cents inside of the first 3 weeks of the year. At that time U.S. gasoline demand and supply were lower and crude oil prices had been increasing, like today.

 

Jan. 19, 2021

Week Ago

Month Ago

Year Ago

National

$2.39

$2.33

$2.22

$2.55

Virginia

$2.30

$2.21

$2.10

$2.35

Hampton Roads

$2.26

$2.16

$2.11

$2.31

 
 

“The higher price of crude is outweighing sustained low gasoline demand and a build in gasoline supply,” said Holly Dalby, director of public affairs for AAA Tidewater. “Motorists can expect gas prices to continue to climb through at least the end of the month.”

 

At the close of Friday’s formal trading session, WTI decreased by $1.21 cents to settle at $52.36. Crude prices decreased at the end of last week due to a strong dollar and an increase in the number of new coronavirus infections, leading to market concern that oil demand may dip as new restrictions are imposed. Earlier in the week, the EIA’s latest weekly report helped bolster crude prices by detailing that total domestic crude inventories declined by 3.2 million bbl to 482.2 million bbl. However, for this week, crude prices could continue to decrease if market concerns grow regarding demand as the number of coronavirus infections continues to climb.

 

As part of North America’s largest motoring and leisure travel organization, AAA Tidewater Virginia provides its more than 350,000 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.

CST 1016202-80 Copyright © Tidewater Automobile Association of Virginia, Incorporated. All Rights Reserved.
AAA Tidewater Virginia is a member club affiliated with the American Automobile Association (AAA) national federation and serves members in the Tidewater Virginia region (All Hampton Roads cities, including Norfolk, Chesapeake, Suffolk, Portsmouth, Virginia Beach, Hampton, Newport News, Williamsburg; Virginia's Eastern Shore; as well as the following counties: Greensville, Surry, Brunswick, Isle of Wight, Gloucester, Lancaster, Middlesex, Richmond County, Southampton, Sussex, Mecklenburg, James City County, York, Lunenburg, Essex, King & Queen, Mathews, Northumberland, and Westmoreland).