Virginia welcomed 2019 with the lowest gas prices since 2016.
On average, drivers in Hampton Roads are paying $1.97 per gallon, that’s down $.22 from last month. Hampton Roads is paying less than the average gas price in Virginia, currently set at $2.05 per gallon.
The cheapest gas station in Hampton Roads (around $1.83/gallon) is a tie between Wawa on Princess Anne Road in Norfolk and 7-Eleven on Princess Anne Road.
One driver, John Smaw said the low prices are a relief.
“I think this is great,” said Smaw. “I just hope it goes down and stays down for a little while longer.”
Experts predict that won’t be the case. Georjeane Blumling, a spokesperson for AAA said gas prices won’t stay this low.
Soon drivers could be shelling out more money at the pump. OPEC production cuts are slated to go into effect this week. That could cause oil prices to spike.
“We know that gas prices when they do go up, they tend to go up more rapidly than they come down,” said Blumling.
There are multiple reasons gas prices have dipped so low. AAA said it’s a combination of low oil prices and during the winter, gas costs less to produce.
Other factors, such as weather, will also cause prices to increase. Gas production is cheaper during the winter, which is a factor in our current low prices.
“As the winter progresses and as we move into the spring we will see some prices inching back up,” said Blumling.