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Big Jump at the Pumps

Gas rises 30 cents per gallon in recent days

The Inter-Mountain photos by Edgar Kelley A customer at the Kroger Service Center in Elkins watches the numbers at the pump while fueling up with gas on Thursday afternoon. Gas prices in the area have risen in the past two weeks due to an increase in the cost of crude oil.

ELKINS — Local residents have seen a dramatic rise in gas prices during the past week.

The average price for a gallon of unleaded gasoline in Randolph County on Thursday was $3.07 per gallon. Last week residents in Randolph were paying in the neighborhood of 30 cents less at the same locations.

Randolph County’s prices are considerably lower than some of its bordering counties, however. The average price for a gallon of regular unleaded gas in Tucker County on Thursday was at $3.39 per gallon.

Barbour County’s price for the same gas was $3.35, and Upshur County was at $3.23. Residents in Pocahontas County are currently paying $3.22 per gallon.

“Any time you get a rise like people have seen over the past week, generally it’s in relation to demand, and how close you are to refineries and highways for transportation costs,” AAA Director of Public Affairs Jim Garrity told The Inter-Mountain Thursday. “Looking at the entire state of West Virginia, its average is at $3.27 cents, which is higher than a week ago.” 

Several customers pump gas into their vehicles at the Go-Mart convenience store located on Railroad Avenue Thursday. Gas prices in Randolph County are currently averaging $3.07 per gallon for regular unleaded gasoline.

Although several factors typically play into how gas prices fluctuate, Garrity says the current trend can be blamed on one thing and one thing alone – the rising cost of crude oil.

“When it comes to the cost of crude oil, that generally drives gas prices up and down,” Garrity said. “Because crude oil is roughly 50 to 60% of what you spend at the pump. It’s the No. 1 ingredient in gas, so just like if the cost of flour goes up, cake is going to be more expensive.

“There is a slight elevation in the amount of people who are driving, so there is a slight increase in demand. But it seems to be the culprit at the moment is crude oil prices sneaking up.”

Garrity said a significant increase in crude oil prices happened within the last two weeks.

“It makes sense that we are now starting to see an increase at the pumps,” he said. “When you have an increase in crude oil, there’s generally a delayed effect for that to hit the pumps. So I think what we are probably seeing right now is that it’s hitting consumers, and that’s just because it’s got to make its way all the way down the supply chain until it finally hits the consumer. When oil goes up and down by a buck or two it has a pretty big impact, and right now, compared to earlier this month, it’s up about $5.”

The average price for regular unleaded gas in West Virginia is currently at $3.27 per gallon. A week ago it was $3.02, while last month at this time it was priced at $2.88.

“The price of gas is spiking nationally right now,” said Garrity. “There’s a lot of factors in play whether it continues to go up or not. We are going to get into that time of the year when spring is not too far away and we do see prices go up anyway, but for the time being it’s all eyes on Crude Oil.”

Prices in Elkins for a gallon of unleaded gasoline Thursday included $2.97 at Walmart, $2.99 at Speedway, $2.99 at GoMart, $2.99 at Kroger, $2.99 at Sheetz, and $3.19 at Par Mar.

   

Starting at $3.92/week.

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