Roanoke gas prices spike, set weekend rise record - WSLS 10 NBC in Roanoke/Lynchburg Va

Roanoke gas prices spike, set weekend rise record

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ROANOKE, VA -

The pain at the pump soared across the Commonwealth to start the workweek, and the Roanoke region set a record it wishes it didn't.

WEEKEND RECORD SET IN ROANOKE REGION

According to AAA Mid-Atlantic, the average price for a gallon of regular unleaded gasoline spiked 14 cents for the Roanoke region between Friday and Monday morning, rising to $3.57 per gallon.  That 14 cent jump is the highest for a weekend since at least 2004 in the Roanoke region, according to AAA's Windy Van Curen who checked the consumer group's records.

Statewide, the average gas price rose eleven cents to $3.61, while nationwide the average pushed up nine cents to $3.73.

Across the Commonwealth, the most expensive region outside of northern Virginia is the Charlottesville region, where prices average $3.60.  That price jumped 16 cents over the weekend.  The Roanoke region's average is the least expensive of the four areas that AAA checks for Virginia.

AAA notes that Virginia's gas price average has gone up 35 cents in the past 30 days.

WHY ARE PRICES SPIKING?

"The high prices drivers are seeing at the pump are a function of the age-old tension between supply and demand, and strangely enough, both are down now," AAA noted Monday.  "Crude oil supplies are also down in the wake of OPEC's decision several months ago to lower production by nearly one million barrels per day."

"Here is the upshot: a perfect storm is brewing at the gas kiosk as speculative money is flowing into the futures market like an oil gusher, oil prices are rising, and refineries are shutting down for seasonal maintenance. Much of the increase in pump prices stems from the cost of crude oil which has skyrocketed," AAA added.

FIND LOWEST PRICED GASOLINE

AAA's online gas price finder uses actual prices paid to help you find the lowest priced gas.  To find prices where you'll be driving, go to here: http://midatlantic.aaa.com/Outreach/GasInformation

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