Dec. 23, 2009
AAA FUEL GAUGE: West Virginia Gasoline Prices Up a Penny
Special to Huntingtonnews.net
Holiday travelers in West Virginia will need to budget a few extra cents for fuel costs this week. Gasoline prices have increased three cents to an average of $2.645 per gallon.
According to the AAA Fuel Gauge, oil prices bounced around on the market Monday, as worrisome international events and oil production news was balanced by a stronger US dollar. The end result was that oil prices ended the day down 76 cents to close at $72.60 per barrel on the New York Mercantile Exchange.
As has been the case for much of the latter half of 2009, fluctuations in the strength of the US dollar played a direct role in the day’s oil price movements. Trading was light due to the upcoming holidays, a factor that can increase price choppiness and is something that will likely continue until year’s end.
International events played a major role in shaping an abbreviated week of trading on the markets. Nigerian militants carried out a small-scale assault on a British owned oil pipeline to protest a lack of progress in oil revenue sharing talks with the Nigerian government.
News Monday that a contingent of Iranian soldiers had crossed into Iraq and seized the al-Fakkah oil field, one of the largest in Iraq, drew oil trader’s attention. According to local government leaders, Iranian soldiers surrounded the disputed oil field, which lies about 200 miles south of Baghdad, before apparently withdrawing shortly after arriving. The move by Iran’s military is significant because just last week several major oil companies were in Baghdad bidding on oil service contracts that would open Iraq’s oil production potential to foreign companies for the first time in over 30 years.
In other international news, OPEC signaled ahead of this week’s production meeting it won’t make any changes to current oil output levels.
Today, the national average retail price for a gallon of self-serve regular stood at exactly $2.585.
This week’s average prices: West Virginia Average . . . . . . . . . . $2.645
Average price during the week of December 15, 2009 . . . . . . . . $2.630
Average price during the week of December 23, 2008 . . . . . . . . . $1.717
The following is a list of the average price of unleaded self-serve gasoline in various areas:
2.699 Bridgeport
2.699 Clarksburg
2.603 Huntington
2.617 Martinsburg
2.665 Morgantown
2.637 Parkersburg
2.614 Weirton
2.632 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 a Penny
Special to Huntingtonnews.net
Holiday travelers in West Virginia will need to budget a few extra cents for fuel costs this week. Gasoline prices have increased three cents to an average of $2.645 per gallon.
According to the AAA Fuel Gauge, oil prices bounced around on the market Monday, as worrisome international events and oil production news was balanced by a stronger US dollar. The end result was that oil prices ended the day down 76 cents to close at $72.60 per barrel on the New York Mercantile Exchange.
As has been the case for much of the latter half of 2009, fluctuations in the strength of the US dollar played a direct role in the day’s oil price movements. Trading was light due to the upcoming holidays, a factor that can increase price choppiness and is something that will likely continue until year’s end.
International events played a major role in shaping an abbreviated week of trading on the markets. Nigerian militants carried out a small-scale assault on a British owned oil pipeline to protest a lack of progress in oil revenue sharing talks with the Nigerian government.
News Monday that a contingent of Iranian soldiers had crossed into Iraq and seized the al-Fakkah oil field, one of the largest in Iraq, drew oil trader’s attention. According to local government leaders, Iranian soldiers surrounded the disputed oil field, which lies about 200 miles south of Baghdad, before apparently withdrawing shortly after arriving. The move by Iran’s military is significant because just last week several major oil companies were in Baghdad bidding on oil service contracts that would open Iraq’s oil production potential to foreign companies for the first time in over 30 years.
In other international news, OPEC signaled ahead of this week’s production meeting it won’t make any changes to current oil output levels.
Today, the national average retail price for a gallon of self-serve regular stood at exactly $2.585.
This week’s average prices: West Virginia Average . . . . . . . . . . $2.645
Average price during the week of December 15, 2009 . . . . . . . . $2.630
Average price during the week of December 23, 2008 . . . . . . . . . $1.717
The following is a list of the average price of unleaded self-serve gasoline in various areas:
2.699 Bridgeport
2.699 Clarksburg
2.603 Huntington
2.617 Martinsburg
2.665 Morgantown
2.637 Parkersburg
2.614 Weirton
2.632 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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