GHENT, WV (WVNS) – A little bit of good news for drivers, as gas prices in West Virginia are down about four cents.
Lori Weaver Hawkins of AAA attributed the slight decrease to a rise in supply and slight decrease in demand.
The global oil market saw lower prices since the United States and its allies agreed upon significant releases of oil reserves.
Weaver Hawkins said global demand is down because of another COVID outbreak in China, the second largest oil consumer in the world, that has many folks in China staying at home.
However, she also said demand could be on the rise again soon, as more folks start preparing for summer travel.
“Something to keep in mind this time of year, what do we usually see? An increase in travel,” Weaver Hawkins explained. “Spring into summer, that means an increase in demand in gasoline. Because a lot of folks are looking forward to that great American road trip every summer.”
As of April 11, oil prices were trading at 94 dollars per barrel, which is down from 98 dollars per barrel on April 8.
Weaver Hawkins said as long as prices stay below the 100 dollar per barrel mark, consumers can expect gas prices to continue going down.