McDonnell touts lower gas prices at Labor Day weekend

Virginia Gov. Bob McDonnell eagerly pointed out that Virginia gas prices were well below the national average as the Labor Day weekend holiday approached.

McDonnell’s signature transportation funding law eliminated Virginia’s long-standing static 17.5 cent-per-gallon gas tax in favor of a 3.5 percent wholesale tax on gasoline.

There’s ongoing debate by local politicians, as well as economists, as to whether or not transferring the tax from consumers to wholesale purchasers will change the price of fuel.

“Gas prices are falling across the commonwealth, and that is good news for Virginians,” McDonnell said, in a statement from his office.

“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 motorists are seeing the results at the pump,” he said.

He added, “Our bold action on transportation means that new road, bridge and rail projects are under way across the commonwealth. Virginians are spending less on gas and will soon be spending less time stuck in traffic.”

According to AAA, Virginia had the fifth-lowest gas prices in the nation last week, with the average hovering near $3.36/gallon for unleaded.

That’s below the national average of $3.54 and more than 24 cents per gallon less than Virginians were paying during the same time period in 2012.

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