CHARLESTON, WV (WOWK) – Gas prices in the Mountain State have begun to stabilize according to the Energy Information Administration (EIA).
The EIA credits “the addition of 4 million bbl of gasoline pushing supply levels to 234.5 million bbl” in the week of April 2 to a strong refinery utilization – hitting right at 84% this year.
According to the EIA, a production increase mixed with a decrease in demand and cheaper crude oil prices drove the gas price average down by a penny to $2.86.
For the first time since March, last week’s crude oil prices remained below $60/bbl for five consecutive days, and this cheaper price is a good sign for pump stability.
“After a wild March, Americans are seeing a little stability at the pump. On the week, 40 states’ averages either increased or decreased by only a penny, or had no change at all,” said Jenifer Moore, AAA spokesperson. “Cheaper crude oil prices will likely help to keep price fluctuation low this week.”
AAA says prices in April should remain below 2019’s levels, but expects them to be higher than 2020’s levels (when most Americans were quarantining).
Below is a chart by AAA comparing last month’s gas prices to prices the Mountain State saw last year. The national average for today is $2.86 – which, according to AAA, is 0.1 cent cheaper compared to last week, but 0.3 cents higher compared to last month, and $1.00 higher compared to last year.
|Today||Change Since Yesterday||Last Month||Last Year|
|West Virginia||$2.74||No change||$2.75||$1.84|
|Beckley||$2.86||Down one cent||$2.85||$1.72|
|Huntington-Ashland (WV only)||$2.66||Down one cent||$2.81||$1.76|