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National average of gas increases to highest price since June

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RICHMOND, Va. – Though Richmond gas prices remain lower than the national average,  a gallon of gas costs almost .50 cents more than it did this time last January.

Last year gas cost $1.74 a gallon in the Richmond area, and now the average cost per gallon is $2.23.

That cost has gone up .12 cents from last month.

Nationally, this is the highest price increase since June 2016.

Retail prices have increased for 40 of the past 42 days as a result of market reactions to the OPEC oil cut agreement, according to AAA.

Traders and industry alike will keep a close eye on OPEC compliance as they await the release of the first output report which is expected in mid-February.

Virginia was one of the states which saw the biggest weekly increase in cost.

 

 

Today Change Since Yesterday Last Month Last Year
National $2.37 No change $2.21 $1.97
Virginia $2.24 No change $2.11 $1.78
Charlottesville $2.22 Up 1 cent $2.09 $1.85
Norfolk Area $2,23 No change $2.08 $1.74
Richmond $2.23 No change $2.11 $1.74
Roanoke $2.24 No change $2.08 $1.82