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AAA FUEL GAUGE: Gasoline Prices Increased Almost 2 Cents in West Virginia

Gas prices in West Virginia increased 1.9 cents this week.

The average price for a gallon of self-serve, regular unleaded gasoline is currently $3.167 at the pump.



According to AAA’s Fuel Gauge, crude oil prices were up 17 cents Monday, settling at a multi-year high of $91.55 at the close of formal trading on the NYMEX.  This marks the first time crude has topped $90 to begin a year since 2008. Oil pricing trends have escalated over the past 12 months as the world economy showed signs of picking up and the U.S. dollar showed continued weakness in comparison to other currencies.

U.S. gasoline consumption jumped 4.6 percent week-on-week to 9.4 million barrels per day for the week ending December 24, up 3.9 percent from the same week in 2009.  The year-to-date gasoline demand showed only mild growth for 2010 to 0.3 percent versus 2009.  Analysts attributed the sharp week-on-week increase to the shift in the 2010 Christmas holiday to Saturday from Friday in 2009 and the subsequent change in the days that drivers chose to travel.

The current national retail average price for a gallon of self-serve regular gasoline is $3.073, up over two cents from a week ago, 13 cents from a month ago, and 41 cents from a year ago.  Thirty states and the District of Columbia are averaging above $3 per gallon for self-serve regular gasoline.  

This week’s average prices: West Virginia Average                     $3.167
Average price during the week of December 28, 2010                  $3.148
Average price during the week of January 5, 2010                        $2.738

The following is a list of the average price of unleaded self-serve gasoline in various areas: