WV weekly fuel update and outlook

Average retail gasoline prices in West Virginia have fallen 1.9 cents per gallon in the past week, averaging $2.27/g yesterday, according to GasBuddy’s daily survey of 1,154 gas outlets in West Virginia. This compares with the national average that has fallen 0.8 cents per gallon in the last week to $2.21/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in West Virginia during the past week, prices yesterday were 37.0 cents per gallon lower than the same day one year ago and are 26.6 cents per gallon higher than a month ago. The national average has increased 16.8 cents per gallon during the last month and stands 45.2 cents per gallon lower than this day one year ago.
According to GasBuddy historical data, gasoline prices on May 9 in West Virginia have ranged widely over the last five years: $2.64/g in 2015, $3.74/g in 2014, $3.62/g in 2013, $3.81/g in 2012 and $4.11/g in 2011.
Areas nearby West Virginia and their current gas price climate: Pittsburgh – $2.39/g, up 2.2 cents per gallon from last week’s $2.37/g.; Charleston – $2.31/g, down 2.4 cents per gallon from last week’s $2.33/g.; Virginia – $2.08/g, up 2.0 cents per gallon from last week’s $2.06/g.
“While it’s rare in May to see the national average price of gasoline nearly two cents lower from the previous week, we’ve seen that retail gasoline has consistently matched (West Texas crude oil’s increases and subsequent plateaus since February,” said Gregg Laskoski, senior petroleum analyst for GasBuddy.
“In 2015 we saw the national average peak in June and the year before it peaked in April, so while the current plateau may seem encouraging for motorists, we still expect rising consumer demand to elevate gasoline prices as we approach the beginning of the summer driving season,” Laskoski added.
For LIVE fuel price averages, visit http://media.gasbuddy.com.


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