West Virginia gas prices drop; trend continues downward
CHARLESTON — Gasoline prices in Northern West Virginia are nearly nine cents cheaper this week at $2.304 per gallon, according to AAA East Central’s Gas Price Report on Thursday.
Statewide, gasoline is about seven cents cheaper this week in West Virginia at $2.33. Nonetheless, the Mid-Atlantic and Northeast region remains one of the most expensive regions in the country this week, AAA said.
This week’s average prices: Northern WV Average, $2.304
Average price during the week of December 17, 2018, $2.390
Average price during the week of December 26, 2017, $2.530
The following is a list of the average prices in several West Virginia locations:
* $2.353: Bridgeport
* $2.312: Clarksburg
* $2.092: Huntington
* $2.421: Martinsburg
* $2.473: Morgantown
* $2.157: Parkersburg
* $2.315: Weirton
* $2.312: Wheeling
Nearly 20 percent of states are currently enjoying prices below $2 per gallon, AAA said. Nationally, retail averages have dropped — 83 of the past 90 days.
The national average for regular unleaded gasoline currently sits at $2.30 per gallon, which is six cents less than one week ago, 24 cents less than one month ago and 16 cents less than at the same time last year.
Heading into 2019, gasoline demand is expected to dwindle during the month of January, an expected change following the busy holiday travel season, AAA said. At the same time, OPEC will begin production cuts on January 1, with hopes that the shift in global supply will push oil prices higher.
The effectiveness of the cuts will not likely be known until later in the first quarter, AAA said.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate decreased 29 cents to settle at $45.59. Oil prices mostly fell last week, reaching their lowest since the third quarter of 2017, as market observers have concerns that the global crude market is oversupplied. Motorists can find current gas prices at GasPrices.AAA.com.