Gas Prices Take Unexpected Dip

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Average retail gasoline prices in Virginia have fallen 3.2 cents per gallon in the past week, averaging $2.16/g yesterday, according to GasBuddy’s daily survey of 4,081 gas outlets in Virginia. This compares with the national average that has fallen 3.7 cents per gallon in the last week to $2.34/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Virginia during the past week, prices yesterday were 8.6 cents per gallon higher than the same day one year ago and are 2.9 cents per gallon lower than a month ago. The national average has decreased 5.6 cents per gallon during the last month and stands 12.5 cents per gallon higher than this day one year ago.

“Gasoline prices in much of the country are eroding at a time of year when such a downward fall is anything but par for the course,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “Prices now lay on the fringe of falling under the same point as last year as this year’s usual spring rally has been the weakest in recent memory. Factors playing a role: weak demand and strong production.