Richmond gas prices fall below $3, but some cities are seeing increases

RICHMOND, Va. -- The average price for a gallon of gas in Richmond, Virginia has fallen below $3, according to a GasBuddy survey of more than 550 gas stations in the area.

The average price on Monday was $2.98 per gallon, GasBuddy shared.

That's:

• 24.6 cents per gallon lower than last month
• 54.3 cents per gallon lower than last year

Nationally, the average price rose 1.2 cents per gallon to $3.16.
Historical gasoline prices in Richmond and the national average going back ten years:

• September 23, 2023: $3.52/g (U.S. Average: $3.83/g)
• September 23, 2022: $3.24/g (U.S. Average: $3.67/g)
• September 23, 2021: $2.96/g (U.S. Average: $3.18/g)
• September 23, 2020: $2.10/g (U.S. Average: $2.19/g)
• September 23, 2019: $2.31/g (U.S. Average: $2.66/g)
• September 23, 2018: $2.57/g (U.S. Average: $2.83/g)
• September 23, 2017: $2.37/g (U.S. Average: $2.56/g)
• September 23, 2016: $2.07/g (U.S. Average: $2.21/g)
• September 23, 2015: $1.97/g (U.S. Average: $2.28/g)
• September 23, 2014: $3.05/g (U.S. Average: $3.33/g

Why are some cities going up and others going down?

"With oil prices jumping after the U.S. Federal Reserve cut interest rates by a larger-than-expected half percent, we've seen some states where gas prices have inched back up, while others have continued to decline. Most of these increases should be temporary with declines returning in the days and weeks ahead," Patrick De Haan, head of petroleum analysis at GasBuddy, said. "In addition, for California and areas of Nevada and western Arizona, areas that had been left out of the recent drops, refinery issues are improving and gas prices should start moving lower. While the future looks good for gas prices to continue trending lower for most in the weeks ahead, oil's jump may mute the downside potential just a bit — for now."

GasBuddy found the least expensive gas in Richmond was priced at $2.67 per gallon, the most expensive was $3.59.

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