Dec. 30, 2009
AAA FUEL GAUGE: West Virginia Gasoline Prices Up 2 Cents Per Gallon
Special to Huntingtonnews.net
West Virginia motorists will pay an extra two cents for a gallon of gas this week. The average price for regular, unleaded is $2.662 per gallon.
According to the AAA Fuel Gauge, oil prices ended Monday, Dec. 28 up 64 cents to close at $78.69 per barrel on the New York Mercantile Exchange. As was suggested in this report last week, light holiday trading on the markets has contributed to somewhat erratic oil price swings to close out 2009. Oil prices started their jump higher on the back of a report last week by the Department of Energy indicating a larger than anticipated draw of crude oil stocks.
Looking back at retail fuel prices in 2009, prices climbed gradually throughout the year and were marked by long periods of stability. The slow, gradual climb in retail gasoline prices for 2009 stands in stark contrast to the rollercoaster in prices witnessed in 2008. Befitting of this trend, the year’s lowest average price for a gallon of self serve regular was recorded on January 1st at $1.62. The year’s highest average recorded price for a gallon of self serve regular for 2009 occurred on October 30th, at $2.695. Interestingly, the national average price for self serve regular never broached $2.70 per gallon – something quite notable given that prices had climbed above $4.00 per gallon in 2008.
The trend in retail gasoline prices more or less mimics the path that market oil prices followed in 2009. Climbing from a low point just above $31 per barrel and ending the year in their current range north of $70 per barrel. Along the way, both retail fuel prices and market oil prices were shaped by countless factors including the strength of the US dollar, record oil supply levels and very weak demand. Of course, the major factor in determining the direction of oil prices and retail gasoline prices has been and will continue to be global economy. The speed and vigor of the economic recovery will have a major influence on retail gasoline prices and market oil prices in 2010.
Despite the erratic changes in market oil prices, retail gasoline prices have managed to stay steady for the past week. As of Monday, the national average retail price for a gallon of self serve regular stood at $2.603. This is only about a penny higher than the average price one week ago.
This week’s average prices: West Virginia Average . . . . . . . . . . $2.662
Average price during the week of December 22, 2009 . . . . . . . . $2.645
Average price during the week of December 30, 2008 . . . . . . . . . $1.680
The following is a list of the average price of unleaded self-serve gasoline in various areas:
2.710 Bridgeport
2.713 Clarksburg
2.613 Huntington
2.635 Martinsburg
2.680 Morgantown
2.632 Parkersburg
2.645 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: West Virginia Gasoline Prices Up 2 Cents Per Gallon
Special to Huntingtonnews.net
West Virginia motorists will pay an extra two cents for a gallon of gas this week. The average price for regular, unleaded is $2.662 per gallon.
According to the AAA Fuel Gauge, oil prices ended Monday, Dec. 28 up 64 cents to close at $78.69 per barrel on the New York Mercantile Exchange. As was suggested in this report last week, light holiday trading on the markets has contributed to somewhat erratic oil price swings to close out 2009. Oil prices started their jump higher on the back of a report last week by the Department of Energy indicating a larger than anticipated draw of crude oil stocks.
Looking back at retail fuel prices in 2009, prices climbed gradually throughout the year and were marked by long periods of stability. The slow, gradual climb in retail gasoline prices for 2009 stands in stark contrast to the rollercoaster in prices witnessed in 2008. Befitting of this trend, the year’s lowest average price for a gallon of self serve regular was recorded on January 1st at $1.62. The year’s highest average recorded price for a gallon of self serve regular for 2009 occurred on October 30th, at $2.695. Interestingly, the national average price for self serve regular never broached $2.70 per gallon – something quite notable given that prices had climbed above $4.00 per gallon in 2008.
The trend in retail gasoline prices more or less mimics the path that market oil prices followed in 2009. Climbing from a low point just above $31 per barrel and ending the year in their current range north of $70 per barrel. Along the way, both retail fuel prices and market oil prices were shaped by countless factors including the strength of the US dollar, record oil supply levels and very weak demand. Of course, the major factor in determining the direction of oil prices and retail gasoline prices has been and will continue to be global economy. The speed and vigor of the economic recovery will have a major influence on retail gasoline prices and market oil prices in 2010.
Despite the erratic changes in market oil prices, retail gasoline prices have managed to stay steady for the past week. As of Monday, the national average retail price for a gallon of self serve regular stood at $2.603. This is only about a penny higher than the average price one week ago.
This week’s average prices: West Virginia Average . . . . . . . . . . $2.662
Average price during the week of December 22, 2009 . . . . . . . . $2.645
Average price during the week of December 30, 2008 . . . . . . . . . $1.680
The following is a list of the average price of unleaded self-serve gasoline in various areas:
2.710 Bridgeport
2.713 Clarksburg
2.613 Huntington
2.635 Martinsburg
2.680 Morgantown
2.632 Parkersburg
2.645 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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