The average price for gasoline across Northern West Virginia is one cent higher at $3.282 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Northern WV Average $3.282
Average price during the week of February 16, 2022 $3.276
Average price during the week of February 22, 2021 $2.663
The following is a list of the average prices in several West Virginia locations:
$3.239 Bridgeport
$3.255 Clarksburg
$3.315 Huntington
$3.393 Martinsburg
$3.312 Morgantown
$3.170 Parkersburg
$3.253 Weirton
$3.317 Wheeling
Trend Analysis:
The potential invasion of Ukraine by Russia is having a rippling effect on the oil market, which in turn will impact the price of gasoline in the U.S. The national average for a gallon of gas has risen to $3.53, four cents more than a week ago, 21 cents more than a month ago and 90 cents more than a year ago.
A Russian attack would be met by severe financial sanctions led by the United States and its allies. Russia could retaliate by withholding oil from the world market, which is already dealing with tight supplies as countries loosen COVID restrictions. Russia is one of the leading oil producers globally, behind only the United States and Saudi Arabia.
According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 1.3 million barrels to 247.1 million barrels last week. On the other hand, gasoline demand fell from 9.13 million barrels per day to 8.57 million barrels per day. Typically, a decrease in gas demand during the winter would put downward pressure on pump prices, but elevated crude prices continue to push pump prices higher.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
AAA East Central is a not-for-profit association with 72 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. News releases are available at news.eastcentral.aaa.com. Follow us on Twitter and Facebook.