Nov. 19, 2009
AAA FUEL GAUGE: WV Gasoline Prices Drop More Than Three Cents
Special to Huntingtonnews.net
West Virginia gasoline prices dropped for the second week. Currently, the price for a gallon of regular, unleaded gasoline dropped 3.6 cents to $2.681 at the pump.
According to the AAA Fuel Gauge, a potent mix of dollar weakness, growing international economic activity and better than expected retail sales data helped oil prices move higher on Monday. Oil ended the day up nearly $2.60 to close at $78.96 on the New York Mercantile Exchange.
On the international front, news the gross domestic product of Japan, the world’s third largest oil consuming nation, grew 4.8 percent in the third quarter signaled to many the potential for returning international oil demand. In the US, an increase in retail sales of 1.4 percent in October fed optimism on the US economy.
With regards to the strength of the US dollar, Federal Reserve Chairman Ben Bernanke suggested low interest rates – an ingredient that contributes to a weak dollar – will remain in place for some time to come.
An interesting snapshot of the broader US economy and specifically the mood of US motorists will come soon with the Thanksgiving holiday. The number of travelers who hit the road during the long holiday weekend will provide insight into how consumers feel about spending money on gasoline and other travel-related expenses. An increase in travel by car may suggest consumers are feeling better about the broader economic picture and that retail gasoline prices are at levels comfortable enough to not hinder their travel plans.
The national retail price for a gallon of self-serve regular is $2.627 or 3.1 cents cheaper than one week ago.
This week’s average prices: West Virginia Average . . . . . . . . . . $2.681
Average price during the week of November 10, 2009 . . . . . . . . . $2.717
Average price during the week of November 18, 2008 . . . . . . . . . . $2.179
The following is a list of the average price of unleaded self-serve gasoline in various areas:
$2.664 Bridgeport
$2.676 Clarksburg
$2.615 Huntington
$2.741 Martinsburg
$2.767 Morgantown
$2.632 Parkersburg
$2.680 Weirton
$2.674 Wheeling
AAA East Central is a not-for-profit association with 80 local offices in Pennsylvania, West Virginia, Ohio, New York and Kentucky servicing 2.5 million members.
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AAA FUEL GAUGE: WV Gasoline Prices Drop More Than Three Cents
Special to Huntingtonnews.net
West Virginia gasoline prices dropped for the second week. Currently, the price for a gallon of regular, unleaded gasoline dropped 3.6 cents to $2.681 at the pump.
According to the AAA Fuel Gauge, a potent mix of dollar weakness, growing international economic activity and better than expected retail sales data helped oil prices move higher on Monday. Oil ended the day up nearly $2.60 to close at $78.96 on the New York Mercantile Exchange.
On the international front, news the gross domestic product of Japan, the world’s third largest oil consuming nation, grew 4.8 percent in the third quarter signaled to many the potential for returning international oil demand. In the US, an increase in retail sales of 1.4 percent in October fed optimism on the US economy.
With regards to the strength of the US dollar, Federal Reserve Chairman Ben Bernanke suggested low interest rates – an ingredient that contributes to a weak dollar – will remain in place for some time to come.
An interesting snapshot of the broader US economy and specifically the mood of US motorists will come soon with the Thanksgiving holiday. The number of travelers who hit the road during the long holiday weekend will provide insight into how consumers feel about spending money on gasoline and other travel-related expenses. An increase in travel by car may suggest consumers are feeling better about the broader economic picture and that retail gasoline prices are at levels comfortable enough to not hinder their travel plans.
The national retail price for a gallon of self-serve regular is $2.627 or 3.1 cents cheaper than one week ago.
This week’s average prices: West Virginia Average . . . . . . . . . . $2.681
Average price during the week of November 10, 2009 . . . . . . . . . $2.717
Average price during the week of November 18, 2008 . . . . . . . . . . $2.179
The following is a list of the average price of unleaded self-serve gasoline in various areas:
$2.664 Bridgeport
$2.676 Clarksburg
$2.615 Huntington
$2.741 Martinsburg
$2.767 Morgantown
$2.632 Parkersburg
$2.680 Weirton
$2.674 Wheeling
AAA East Central is a not-for-profit association with 80 local offices in Pennsylvania, West Virginia, Ohio, New York and Kentucky servicing 2.5 million members.
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