West Virginia Gas Prices Higher; Some Gulf Refineries Still Offline

West Virginia Headlines

Gas prices at a Mobil gas station in Vernon Hills, Ill., (AP file/Nam Y. Huh)

The average price of gasoline across Northern West Virginia is one cent higher at $3.022 per gallon, according to AAA East Central’s Gas Price Report.

This week’s average prices: Northern WV Average                       $3.022
Average price during the week of August 31, 2021                        $3.019
Average price during the week of September 8, 2020                    $2.275

The following is a list of the average prices in several West Virginia locations: 

$3.049      Bridgeport
$3.006      Clarksburg
$2.951      Huntington
$3.153      Martinsburg
$2.909      Morgantown
$2.995      Parkersburg
$3.064      Weirton
$3.052      Wheeling

Trend Analysis:
Following Labor Day weekend and the remnants of Hurricane Ida, the national gas price average has stabilized at $3.18, which is just 3 cents more expensive on the week. The storm took about 13% of U.S. refinery capacity offline and while there are no firm re-start dates, refineries are expected to be back online this month. For now, the downed production could put pressure on crude supplies and prices as the recovery and restoration process unfolds in the region.

Gasoline stock levels are currently at 227.2 million barrels, which is a healthy level. However, stock levels could tighten until refineries resume normal operations. Typically, a limitation on stocks would mean higher gas prices, but with demand expected to decrease going into the fall, price fluctuation should be minimal. Today’s national average is the same as last month, but 96 cents more than a year ago.

Historically, gas demand starts to decline in the fall as schools reopen and summer road trips end, which leads to less expensive gas prices. Despite the dip in demand, the national average is expected to remain above $3 per gallon especially as crude oil continues to price on the higher end.

Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.

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