FAYETTE COUNTY, WV (WOAY) – Since Operation Epic Fury began in Iran, gas prices in Southern West Virginia jumped significantly. The conflict in Iran is the reason for the sharp spike in prices, but it’s not the only reason for the increase.
Lori Weaver Hawkins with AAA Bluegrass explains that oil is a global commodity, and conflicts like Operation Epic Fury in Iran ripple out, even though America doesn’t buy Iranian oil:
“Iran is a key player in the oil market, so any disruptions to its oil infrastructure is consequential,” she said. “And so because oil is part of a global market, that means if there’s a shortfall in one part of the world, it affects other parts of the world too. Including right here in West Virginia.”
The conflict hit at a moment when prices were already climbing due to a switch to more expensive summer-blend fuel and spring travel demand. AAA says these forces combined delivered an overnight surge in gas prices.
“West Virginia was averaging right around $2.99, so just under that $3 mark. But that’s up $0.14 overnight. Beckley is up $0.10,” said Hawkins, “Charleston’s right around the same average as West Virginia overall at $2.99, but it jumped up $0.16 overnight.”
Southern West Virginia relies on spring and summer visitors to fuel its tourism industry. The question is: will higher fuel prices keep travelers home this season?
“The interesting thing is people still seem to make travel a priority,” answered Hawkins. “They save for these trips all year. That’s their family vacation or couples or even single travelers going on vacation. They’ve saved for that. They plan for it. They take the time off work for it.”
AAA says that even if the conflict in the Middle East were to end abruptly, oil prices historically fall slower than they rise, so this most recent volatility will likely take some time to recover from.
