The average price for gasoline across Northern West Virginia is nine cents lower this week at $3.129 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Northern WV Average $3.129
Average price during the week of December 4, 2023 $3.219
Average price during the week of December 12, 2022 $3.249
The following is a list of the average prices in several West Virginia locations:
$3.220 Bridgeport
$3.204 Clarksburg
$2.970 Huntington
$3.236 Martinsburg
$3.208 Morgantown
$3.093 Parkersburg
$3.011 Weirton
$3.091 Wheeling
Trend Analysis:
As the holiday season continues, the national average for a gallon of gas has fallen nine cents since last week to $3.15. The main reason is a weaker cost for oil, which is struggling to stay above $70 per barrel. The falling price comes just a week after OPEC+ announced voluntary production cuts of about 2 million barrels daily. More than half of all US fuel locations have gasoline below $3 per gallon. Today’s national average is 22 cents lower than a month ago and 12 cents lower than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand increased slightly from 8.21 to 8.47 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased significantly by 5.4 million barrels to 223.6 million barrels. Lower gas demand and supply growth have helped push pump prices lower.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $2.94 to settle at $69.38. Oil prices dropped due to market concerns that lackluster demand could continue to push supply up while prices slide through the remainder of 2023. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 4.7 million barrels to 445 million barrels last week.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.
