MORGANTOWN, W.Va. — International affairs could affect gas prices nationally and in West Virginia.
Gasbuddy.com senior petroleum analyst Patrick Dehaan says a combination of factors, including a new flare-up in the trade war with China, could bring gas prices down 50 cents by Thanksgiving.
“It could slow global demand, and thus global oil demand could hurt because of this,” he said. “Oil prices plummeted eight percent on that tariff news because it could mean a slow down for the U.S. economy.”
Dehaan also cited the switch from “summer gas” and typical seasonal demand fluctuations as other circumstances providing current downward pressure on gas pump prices.
“Coupled with the seasonality we could see gas prices across the country reach an average of $2.25-per gallon by Thanksgiving,” he said.
Historical data says gas prices typically peak around July 4 and fall through Christmas, reaching an annual low in the month of February.
Locally, Dehann said the average price will fall to $2.65 per gallon.