CLARKSBURG, W.Va. (WBOY) — Gas prices are drifting downward in West Virginia and across the rest of the country, according to AAA data.
As of Monday, AAA gave the following gas price averages for north central West Virginia:
- Bridgeport: $3.298
- Clarksburg: $3.314
- Morgantown: $3.316
Nationally, gas was averaging $3.439 per gallon on Monday, per AAA data, and statewide, West Virginia gas prices were averaging $3.336.
AAA said the reason for the dip in gas prices is fear of a recession, which has global oil prices hovering near $70 a barrel.
This is despite gas demand increasing from 8.59 million to 8.96 million b/d last week while total domestic gasoline stocks decreased significantly by 6.4 million bbl to 229.6 million bbl last week, according to AAA.
As of the latest available Energy Information Administration data, on March 17, 2023, the U.S. Strategic Petroleum Reserve’s levels were at 371,579 thousand barrels, the lowest the reserve has been at since December 1983.