Gasoline costs hold climbing in Fredericksburg area | Native Information

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Another day, another gas price record.

The cost of a gallon of regular gasoline hit $4.57 in the Fredericksburg area Monday, setting another all-time high, according to the AAA Auto Club. That price is up 18 cents over the past week, 35 cents over the past month and $1.63 since this time last year.

The price of gas started to rise sharply in March and has since hit numerous record highs.

In Virginia, the average cost of a gallon of regular gasoline costs set another record at $4.63. That price is up 18 cents over the past week, 48 cents over the past month, and $1.72 since this time last year. Diesel fuel also set another record at $5.73.

The national average for gas is even worse at $4.86, according to the AAA.

The auto club said rising oil prices (almost $120 on Monday) and demand are driving rising gas prices.

GasBuddy.com, a fuel tracking website, was gloomy about future gas prices on Monday.

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“After a blistering week in which gas prices have skyrocketed in almost every possible city, state and territory, more bad news is on the horizon. It now looks not if, but when we will reach that psychologically critical $5 national average,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Gasoline stockpiles continue to fall even as demand slacks on high prices, a peak of lower than pre-COVID refining capacity and heavy consumption, a situation that is unlikely to improve drastically anytime soon. Nine states have average gas prices above the $5 per gallon mark, with more to come in the coming days and weeks. In addition, diesel prices are also at record highs, a second blow to consumers, pushing up the prices of most goods.”

Scott Shenk: 540/374-5436

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