The average price for gasoline across Northern West Virginia is six cents higher this week at $3.593 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Northern WV Average $3.593
Average price during the week of July 31, 2023 $3.532
Average price during the week of August 8, 2022 $4.034
The following is a list of the average prices in several West Virginia locations:
The national average for a gallon of gas is continuing to trend higher, rising seven cents over the last week to $3.82. Pump price increases are primarily due to the price of oil, which has been staying close to $80 per barrel. Last month’s extreme heat also played a role in the recent gas price spike as some refineries pulled back on production, but operations are now returning to normal. Today’s national average is 29 cents more than a month ago but 24 cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand decreased slightly from 8.94 to 8.84 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased by 1.5 million barrels to 219.1 million barrels.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $1.88 to settle at $79.49. Oil prices temporarily dropped after the U.S. credit rating declined, increasing market fears that oil demand could decline if the economy eases. Additionally, the EIA reported that total domestic, commercial crude inventories decreased by 17 million barrels to 439.8 million barrels.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.
AAA East Central is a not-for-profit association with 69 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.