MORGANTOWN, W.Va. — As West Virginians travel this summer, motorists will find themselves paying more gas than any other point this year.
AAA reported Tuesday gas prices have increased by 40% since the start of the year, bringing the national average for a gallon of regular gas to $3.13. The organization anticipates the national average will continue increasing by between 10 and 20 cents through the end of August, bringing the national average to $3.25.
In West Virginia, the average cost of one gallon of regular gas has increased to $3.05 with prices differing between communities:
— Beckley: $3.05 a gallon.
— Charleston: $3.09 a gallon.
— Huntington: $3.09 a gallon.
— Morgantown: $2.99 a gallon.
Morgan Dean, AAA Mid-Atlantic’s senior special specialist in public and government affairs, said the price increase is connected to a shift in demand as many people did not travel in 2020 because of the coronavirus pandemic.
“There was an abundant supply last year. People weren’t driving as much and demand was super low. Prices were very, very low last year,” he said.
“We’ve been using the term ‘revenge travel’ this year,” Dean added. “It sounds tawdry and weird, but it’s really just making up for lost time last year.”
Regional gas prices can always fluctuate with how petroleum companies plan deliveries and their share in a market.
“Sometimes, it really does come down to whether the store belongs to a chain that buys in bulk and gets deliveries on certain days, where they get from, and where they get their gas,” Dean said.
Another factor impacting gas prices is international trade; member countries of OPEC failed to reach an agreement last weekend on increasing oil supply.
“We’re actually closing in on a seven-year high for crude oil. Crude oil is about to hit $76 (a barrel),” Dean said.
AAA noted Tuesday it is monitoring Hurricane Elsa and its possible impact on gas prices. While the category 1 hurricane is not expected to cause interruptions to Gulf Coast oil and gasoline production, it could bring flooding to parts of Florida, Georgia and South Carolina