Gas prices continue to drop across Virginia

BEDFORD, Va. – A brand new report from Gasoline Buddy reveals that the nationwide common is lower than $4 a gallon – which is the bottom since early March 2022.

Some drivers we spoke with Tuesday mentioned the lower cost is a reduction, whereas others mentioned the costs aren’t low sufficient.

“I believe each little bit that [prices go] down, it helps everybody,” mentioned driver Gregg Reynolds.

“I believe [the prices are] loads higher than they have been a few months in the past, however they’re nonetheless fairly up there,” mentioned Chasity Kendrick, one other driver.

Drivers mentioned that in comparison with greater gasoline costs earlier this summer season, they’re lastly in a position to avoid wasting cash or use it elsewhere.

“If it’s simply going out and getting one thing to eat or taking a trip, go to the Peaks of Otter or one thing; however each little bit helps, particularly as a guardian,” mentioned Reynolds.

“[It helps] for something, for lease, for simply on a regular basis necessities actually,” mentioned Kendrick.

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Morgan Dean, AAA Mid-Atlantic spokesman, mentioned decrease gasoline costs are thanks to 2 key elements, one being the value of crude oil.

“Crude oil was promoting for like $115 a barrel a few weeks in the past. Yesterday, it was promoting for just below $90 a barrel, in order that reveals you a few of that distinction. About 60 % of what we pay on the pump is made up of the value of crude,” mentioned Dean.

The opposite issue is that there’s much less demand with extra provide.

“Over the previous few weeks, we’ve seen a bit of bit decrease demand than we often see through the busy summer season journey season,” mentioned Dean.

Dean mentioned it’s exhausting to foretell what demand seems like from week to week, in order that they’re unsure how lengthy the decrease costs will final, particularly whereas we’re nonetheless in the summertime months.

Dean steered buying round at totally different gasoline stations as a result of you possibly can usually discover costs below the common.