Virginia’s gas prices soar amid Middle East conflict
VENN
RICHMOND, Va. (WRIC) — Virginians now pay nearly a dollar more per gallon at the pump than they did a year ago as U.S. gas prices climb toward the $4 mark amid escalating conflict in the Middle East.
Regular gas prices averaged $3.76 across Virginia as of Friday, March 20, up 36 cents from a week ago and nearly a dollar from last month's $2.84. Gas prices this time last year averaged $2.94 in the commonwealth.
Gas prices began trending upwards since the U.S. and Israel launched attacks in Iran on Feb. 28, sending crude oil prices to over $70 per barrel earlier this month, according to AAA data released on March 5 that recorded U.S. fuel prices at $3.25 -- 27 cents higher than the previous week. Crude oil prices have since spiked above $100 per barrel.
The agency noted that gas prices are typically higher as demand increases in the springtime, and that the last time the national average made a similar weekly jump was at the start of the Russian-Ukrainian conflict in March 2022.
MORE: As gas prices climb, experts warn of ripple effects from Iran war
U.S. regular fuel prices are inching toward $4 per gallon, standing at $3.91 as of Friday. This is up nearly 80 cents from last year's $3.12 and a dollar more than last month's $2.93.
Since the beginning of the conflict, Virginia has not yet made the nation's top 10 most expensive gas markets. At $3.73 per gallon, the commonwealth ranked 24th on Friday, charging about $1.89 less than No. 1 California and 49 cents more than Kansas in last place.
The Richmond-Petersburg area is among localities with the highest prices in the commonwealth, ranging between $3.82 to $3.93, according to the AAA. Prices across the region averaged $3.807, up about 90 cents from last month's $2.91. This time last year, regular fuel cost $2.95 per gallon in the Central Virginia area.
The Trump administration has made several attempts to bring down prices at the gas pump, though experts warned of little impact. Among them, a White House effort to release 172 million barrels of oil from its reserves, which the AAA said would have "no immediate relief on the oil market" as crude oil prices per barrel continue to rise.
