Advertisement

AAA: Gas prices likely to see larger increases in May

Published: May. 3, 2021 at 3:52 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

RICHMOND, Va. (WWBT) - With the summer travel season starting, AAA is expecting to see larger gas price increases across the country in May.

At the start of the month, the national average gas price is $2.90, which is three cents more than a month ago.

“While April saw minimal fluctuation, May is likely to see much larger increases alongside demand spikes, especially closer to Memorial Day weekend,” said Morgan Dean, AAA spokesperson. “Compared to May 2019, U.S. gasoline demand is down only 4% and gas prices are on average just two cents more.”

According to AAA, Virginia’s average gas price is $2.73, which is up three cents from last week, two cents from last month and $1.06 from last year.

The pump increases come amid an influx in supply and demand.

“With road trips expected to be popular this summer, some summer travel destinations, like beaches or mountains, may see some pumps affected. It is important to understand this is not a market-wide impact. Gas can be found at other stations within a market,” said Dean. “The U.S. is not looking at a gas supply shortage; there is ample gasoline supply across the country. It is just a matter of more frequent deliveries to stations to meet demand.”

In Richmond, $2.72 is the average gas price, which is up two cents from last week.

Copyright 2021 WWBT. All rights reserved.