April 21, 2010
AAA FUEL GAUGE: Almost a Penny Drop in WV Gasoline Prices
Special to Huntingtonnews.net
The average price for a gallon of self-serve regular gasoline in West Virginia is currently $2.883. The national average retail price held steady at $2.859.
According to AAA’s Fuel Gauge, oil prices fell for a third straight day as Monday prices pulled back from 18 month highs on major market news and lingering concerns over the pace of the global economic recovery. Prices closed at $81.45 per barrel on the New York Mercantile Exchange.
The news set to dominate the markets -- including oil prices -- to open the week pertains to surprise allegations of fraud made against Goldman Sachs by the Securities and Exchange Commission late last week. Charges that Goldman Sachs intentionally misled investors when it sold securities linked to sub prime mortgages helped stoke a bearish mood on the markets. Investors appeared to be concerned the allegations against a major market player would further stall the economic recovery and possible hurt oil demand as a result.
Friday, a consumer sentiment report that measures the public’s economic optimism – fell unexpectedly for the month of April. Most analysts and market-watchers had anticipated an improvement in the mood of US consumers. Measures like the consumer sentiment survey are significant because they provide a rough indicator of when consumers are likely to resume normal activities like shopping and traveling.
While Friday’s news suggested there was room for pessimism on the economy, Monday brought reason for optimism. The leading economic indicators index – which measures changes in 10 key parts of the economy - rose 1.4 percent in March of this year. Most important in terms of oil prices is that a sizable portion of the improvement came from the manufacturing sector, a major consumer of oil. Yet, while consumer sentiment and manufacturing are important things to watch, unemployment remains a major factor in the pace of the recovery as well as oil and gasoline demand.
This week’s average prices: West Virginia Average . . . . . . . . . . . $2.883
Average price during the week of April 13, 2010 . . . . . . . . . . . . . . $2.891
Average price during the week of April 21, 2009 . . . . . . . . . . . . . . $2.070
The following is a list of the average price of unleaded self-serve gasoline in various areas:
$2.839 Bridgeport
$2.860 Clarksburg
$2.864 Huntington
$2.997 Martinsburg
$2.901 Morgantown
$2.866 Parkersburg
$2.880 Weirton
$2.859 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: Almost a Penny Drop in WV Gasoline Prices
Special to Huntingtonnews.net
The average price for a gallon of self-serve regular gasoline in West Virginia is currently $2.883. The national average retail price held steady at $2.859.
According to AAA’s Fuel Gauge, oil prices fell for a third straight day as Monday prices pulled back from 18 month highs on major market news and lingering concerns over the pace of the global economic recovery. Prices closed at $81.45 per barrel on the New York Mercantile Exchange.
The news set to dominate the markets -- including oil prices -- to open the week pertains to surprise allegations of fraud made against Goldman Sachs by the Securities and Exchange Commission late last week. Charges that Goldman Sachs intentionally misled investors when it sold securities linked to sub prime mortgages helped stoke a bearish mood on the markets. Investors appeared to be concerned the allegations against a major market player would further stall the economic recovery and possible hurt oil demand as a result.
Friday, a consumer sentiment report that measures the public’s economic optimism – fell unexpectedly for the month of April. Most analysts and market-watchers had anticipated an improvement in the mood of US consumers. Measures like the consumer sentiment survey are significant because they provide a rough indicator of when consumers are likely to resume normal activities like shopping and traveling.
While Friday’s news suggested there was room for pessimism on the economy, Monday brought reason for optimism. The leading economic indicators index – which measures changes in 10 key parts of the economy - rose 1.4 percent in March of this year. Most important in terms of oil prices is that a sizable portion of the improvement came from the manufacturing sector, a major consumer of oil. Yet, while consumer sentiment and manufacturing are important things to watch, unemployment remains a major factor in the pace of the recovery as well as oil and gasoline demand.
This week’s average prices: West Virginia Average . . . . . . . . . . . $2.883
Average price during the week of April 13, 2010 . . . . . . . . . . . . . . $2.891
Average price during the week of April 21, 2009 . . . . . . . . . . . . . . $2.070
The following is a list of the average price of unleaded self-serve gasoline in various areas:
$2.839 Bridgeport
$2.860 Clarksburg
$2.864 Huntington
$2.997 Martinsburg
$2.901 Morgantown
$2.866 Parkersburg
$2.880 Weirton
$2.859 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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