Richmond Gas Prices Jump 17¢ In One Week - 8NEWS - WRIC | News Where You Live

Richmond Gas Prices Jump 17¢ In One Week

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RICHMOND, VA—Gas prices are at their highest point ever for this time of the year, and the surge is setting the way for even higher gas prices in the future.

Richmonders are paying an average of $3.38 a gallon when they fill up at the pump, that's up some 17¢ a gallon from just last week.

Richmond: $3.38—17¢ more than this time last week
Virginia: $3.41—14¢ more than this time last week
Nationally: $3.52—17¢ more than this time last week

As far as what's causing the jump, rising crude oil prices, refinery maintenance slowdowns and low gasoline supplies are all taking the heat.

Normally these factors would push gas prices higher in the spring, but because of January maintenance and low inventories, prices are going up now.

The good news is AAA says gas prices are not expected to be as high as they were last year.

In 2012 the average US household spent almost $3,000 in gas, according to the US Energy Information Administration. That's about 4% of the average household income before taxes.


Copyright 2013 by Young Broadcasting of Richmond


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