The average price for gasoline across Northern West Virginia is three cents lower this week at $3.468 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Northern WV Average $3.468
Average price during the week of January 23, 2023 $3.490
Average price during the week of January 31, 2022 $3.113
The following is a list of the average prices in several West Virginia locations:
$3.506 Bridgeport
$3.462 Clarksburg
$3.269 Huntington
$3.487 Martinsburg
$3.563 Morgantown
$3.359 Parkersburg
$3.545 Weirton
$3.554 Wheeling
Trend Analysis:
The recent run of daily one- to four-cent price increases slowed heading into this past weekend, with prices now dipping slightly to start the week. However, increased demand and higher global oil prices pushed the national average for a gallon of gas up eight cents since last week to $3.50. Today’s national average is 33 cents more than a month ago and 14 cents more than a year ago.
According to data from the Energy Information Administration, gas demand rose slightly from 8.05 to 8.14 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased by 1.7 million barrels to 232 million barrels. Rising gas demand and elevated oil prices have contributed to higher pump prices.
At the close of Friday’s formal trading session, West Texas Intermediate decreased by $1.33 to settle at $79.68. Although a higher dollar contributed to pushing prices lower at the end of the week, oil prices rose earlier last week amid ongoing market optimism that global oil demand will be more robust than anticipated in 2023. This is partly due to China re-opening its economy after imposing strict COVID-19 lockdowns that curtailed demand.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.