Gas Prices Keep Sliding Lower

The average price for gasoline across Northern West Virginia is 11 cents lower this week at $3.499 per gallon, according to AAA East Central’s Gas Price Report released Monday.
This week’s average prices:
Northern WV Average: $3.499
Average price during the week of November 21, 2022: $3.605
Average price during the week of November 28, 2021: $3.292
The following is a list of the average prices in several West Virginia locations:
Bridgeport $3.559
Clarksburg $3.568
Huntington $3.197
Martinsburg $3.516
Morgantown $3.596
Parkersburg $3.382
Weirton $3.632
Wheeling $3.542
Trend Analysis:
The national average for a gallon of gas dropped 12 cents this week to $3.54, which is 22 cents less than a month ago and 15 cents more than a year ago. It is the steepest weekly decline since early August.
According to data from the Energy Information Administration (EIA), gas demand, excluding holiday travel, fell from 8.74 million to 8.33 million barrels per day last week. Meanwhile, total domestic gasoline stocks rose by more than 3 million barrels to 211 million barrels. Increasing supply and fewer drivers fueling up have pushed pump prices lower.
At the close of last Friday’s formal trading session, West Texas Intermediate decreased by $1.66 to settle at $76.28. Crude prices dropped last week due to growing economic concerns despite the EIA reporting that total domestic commercial crude stocks had declined by 3.7 million barrels. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) are meeting on December 4. If OPEC+ decides to revise its production reduction agreement to more than 2 million barrels, prices could be affected.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.