The average price for gasoline across Northern West Virginia is five cents lower this week at $3.466 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Northern WV Average $3.466
Average price during the week of April 24, 2023 $3.515
Average price during the week of May 2, 2022 $3.937
The following is a list of the average prices in several West Virginia locations:
Lower oil prices are causing pump prices to fall, with the national average for a gallon of regular gasoline dropping a nickel since last week to hit $3.61. Today’s national average is 11 cents more than a month ago but 57 cents less than a year ago.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $2.77 to settle at $74.30. Oil prices fell amid ongoing market concerns that low consumer confidence could contribute to a recession this year. Additionally, the EIA reported that total domestic commercial crude inventories decreased by 5.1 million barrels to 460.9 million barrels last week.
According to new data from the Energy Information Administration (EIA), gas demand increased significantly from 8.52 to 9.51 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased by 2.4 million barrels to 221.1 million barrels. Higher demand, alongside a decline in stocks, would typically push pump prices up; however, fluctuating oil prices have pushed them lower.
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.