The average price for gasoline across Northern West Virginia is five cents lower this week at $3.149 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Northern WV Average $3.149
Average price during the week of October 30, 2023 $3.199
Average price during the week of November 7, 2022 $3.670
The following is a list of the average prices in several West Virginia locations:
The national average for a gallon of gas shaved off eight cents since last week, falling to $3.41. The primary reasons are flat demand at the pump and lower costs for oil. There are now thousands of gas stations selling regular below $3 a gallon and even a few that have dipped below $2. Today’s national average is 33 cents lower than a month ago and 39 cents lower than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand decreased slightly from 8.86 to 8.7 million barrels per day last week. Meanwhile, total domestic gasoline stocks remained flat at 223.5 million barrels. Lower gas demand, alongside declining oil prices, has contributed to pushing pump prices down.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by 58 cents to settle at $80.44. Oil prices fell as the dollar strengthened after the U.S. Federal Reserve decided to hold off on another interest rate increase for now. Additionally, the EIA reported that total domestic commercial crude inventories increased by 800,000 barrels to 421.9 million barrels last week.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.