AAA: National average for gasoline dips below $3
(Graphic Illustration - MetroCreativeConnection)
PARKERSBURG — For the first time in four years the average price of a gallon of gasoline in the U.S. dipped below $3, according to the AAA East Central’s Gas Price Report. In northern West Virginia the price remained stable at $2.82. In Parkersburg, the auto club reports the average price is $2.656 a gallon on Wednesday, among the lowest in the state. Other prices across the state are: Charleston, $2.862; Huntington, $2.834; Morgantown, $2.937; Wheeling, $2.809 and Weirton, $2.889. According to AAA, the average price per gallon in Ohio was $2.653 as of Wednesday, compared to $2.812 a week ago and $2.806 a year ago. In Washington County, the average price on Wednesday was $2.79. Monday’s national average of $2.95 is five cents lower than a week ago, seven cents lower than a month ago, and six cents less than a year ago. Crude oil prices remain on the lower side around $60 a barrel. Sluggish gasoline demand and cheaper-to-produce winter blend gasoline are also contributing to the drop at the pump. According to new data from the Energy Information Administration, gasoline demand decreased from 8.72 million barrels per day last week to 8.32 million. Total domestic gasoline supply increased from 209.9 million barrels to 214.4 million. Gasoline production increased last week, averaging 9.8 million barrels per day. According to the EIA, crude oil inventories increased by 0.6 million barrels from the previous week. At 427.5 million barrels, U.S. crude oil inventories are about 3% below the five-year average for this time of year.Local News
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