The average price for gasoline across Northern West Virginia is stable this week at $3.590 per gallon, according to AAA East Central’s Gas Price Report.
This week’s average prices: Northern WV Average $3.590
Average price during the week of August 7, 2023 $3.593
Average price during the week of August 15, 2022 $3.885
The following is a list of the average prices in several West Virginia locations:
$3.614 Bridgeport
$3.594 Clarksburg
$3.494 Huntington
$3.657 Martinsburg
$3.633 Morgantown
$3.569 Parkersburg
$3.555 Weirton
$3.601 Wheeling
Trend Analysis:
The national average for a gallon of gas is up three cents over the past week and is now at $3.85. This latest price increase comes after an uptick in gas demand and crude oil prices staying above $80 per barrel. Today’s national average is 29 cents more than a month ago but 10 cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand jumped from 8.84 to 9.30 million barrels per day last week. Meanwhile, total domestic gasoline stocks decreased from 219.1 to 216.4 million barrels. Higher demand, amid tighter supply, has helped to keep pump prices elevated.
At the close of Wednesday’s formal trading session, West Texas Intermediate increased by $1.48 to settle at $84.40. The price of oil has not been this high since mid-April 2023. Prices have increased amid market optimism that oil demand will be more robust than expected during this half of 2023 and into 2024. Additionally, the EIA reported that total domestic commercial crude inventories increased from 439.8 to 445.6 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