The average price for gasoline across Northern West Virginia is three cents lower this week at $3.560 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Northern WV Average $3.560
Average price during the week of April 10, 2023 $3.595
Average price during the week of April 18, 2022 $3.869
The following is a list of the average prices in several West Virginia locations:
The national average for a gallon of regular gasoline rose 11 cents over the last week to hit $3.67. The main culprit is the cost of oil, gasoline’s main ingredient. Prices have hovered in the low $80’s per barrel for about two weeks after spending much of March around $70 per barrel. The national average has risen daily since March 29. Today’s average of 3.67 is 22 cents more than a month ago but 41 cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand decreased from 9.3 to 8.94 million barrels per day last week. Meanwhile, total domestic gasoline stocks dropped slightly by 400,000 barrels to 222.2 million barrels. Lower demand would typically push pump prices down; instead, elevated oil prices have pushed them higher.
At the close of Wednesday’s formal trading session, West Texas Intermediate increased by $1.73 to settle at $83.26. Oil prices increased after the U.S. Labor Department said the U.S. Consumer Price Index rose 0.1% in March, a lower rise than the market expected. Additionally, the EIA reported that total domestic commercial crude inventories increased by 500,000 barrels to 470.5 million barrels last week.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.
Leave a Reply