Decreasing Gas Prices in Virginia

According to a recent AAA Mid Atlantic report, Virginia has tied for the fifth lowest gas prices in the US!

Last week in Virginia, the average price for unleaded gas was $3.36/gallon. This is approximately $0.24 less than the price per gallon a year ago!

Governor McDonnell has credited this drop in gas prices to the 2013 transportation package passed by the General Assembly earlier this year. The bill, which went into effect July 1, 2013, cuts the 17.5 cents-per-gallon gas tax by 7.5 cents and converts the remaining 10 cents/gallon into a percent of the wholesale price.

“After nearly three decades of gridlock we came together this year and passed a historic bipartisan transportation funding solution which reduced the tax on gas, and now our motorist are seeing the results at the pump,” said Governor McDonnell.

I’m happy to say that our transportation package is giving us good results! Now, let’s repave our roads!

Virginia vs. Maryland Gas Prices

Gas prices are set by gas station based upon competition, the price they pay to acquire it, and taxes. The Virginia Transportation Bill, which went into effect July 1, 2013, cuts the 17.5 cents-per-gallon gas tax by 7.5 cents and converts the remaining 10 cent/gal into a % of the wholesale price. In comparison, our neighboring state across the Potomac raised their gas tax by 3.5%. Our office decided to do some research to find out exactly how VA gas prices compare to MD; both before July 1, 2013 and after.

In Virginia prior to July 1, an Exxon in West Springfield had their “regular” gasoline priced at $3.65/gal. On July 2, the same Exxon decreased the price (for the same gasoline) to $3.59/gal. The nearby Shell had their price for regular gasoline at $3.65/gal, and on July 2, they also lowered their price to $3.59/gal. Presumably to account for the tax cut, on August 6, 2013, both West Springfield gas stations raised their price to $3.69/gal.

In Maryland before July 1, both an Exxon and Shell, at the Corner of Westlake Drive and Democracy Blvd. in Bethesda, Maryland, were charging $3.65/gal. This was the same as the Virginia prices.  Based off an August 6^th trip across the river, the same stations in Maryland are now charging $3.89/gal.

In summary, although gas prices have risen since June in both states, Virginia’s prices went up 4 cents per gallon while Maryland’s prices went up $0.20 per gallon.

We really did the research. Check out our photos from August 6, 2013!

Springfield, Virginia

Bethesda, Maryland