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Why gas prices jumped 11 cents per gallon in Richmond

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RICHMOND, Va. -- The average price for a gallon of gas in Richmond, Virginia rose 11 cents in the last week, according to a GasBuddy survey of more than 550 gas stations in the area.

The average price on Monday was $3.11 per gallon, GasBuddy shared.

That's:

  • 4.8 cents per gallon lower than last month
  • 30.8 cents per gallon lower than last year

Nationally, the average price dropped 4.6 cents per gallon to $3.13.
Historical gasoline prices in Richmond and the national average going back ten years:

  • October 7, 2023: $3.42/g (U.S. Average: $3.69/g)
  • October 7, 2022: $3.38/g (U.S. Average: $3.90/g)
  • October 7, 2021: $3.05/g (U.S. Average: $3.24/g)
  • October 7, 2020: $2.09/g (U.S. Average: $2.18/g)
  • October 7, 2019: $2.25/g (U.S. Average: $2.65/g)
  • October 7, 2018: $2.64/g (U.S. Average: $2.91/g)
  • October 7, 2017: $2.27/g (U.S. Average: $2.48/g)
  • October 7, 2016: $2.06/g (U.S. Average: $2.26/g)
  • October 7, 2015: $1.98/g (U.S. Average: $2.29/g)
  • October 7, 2014: $2.99/g (U.S. Average: $3.27/g)
    
    
"While the national average dipped slightly in the last week, Iran's attack on Israel has at least temporarily caused oil prices to surge to the highest level in months, which could cause the declines to cease for now and could lead to a rise in gas prices for many Americans," Patrick De Haan, head of petroleum analysis at GasBuddy, said. "In addition to the escalation in the Middle East, hurricane season remains active, with Hurricane Milton now heading toward a likely landfall in Florida."

Gas prices in Richmond ranged from $2.69 to $3.49.

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