Koumas (left) jostles with Olofinjana at Molineux
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Wolves moved up to fourth place in the Championship after beating fellow promotion rivals West Brom.
Both teams cancelled each other out in the first half of the Midlands derby but the deadlock was broken after 83 minutes by substitute Jay Bothroyd.
He was set up by highly-rated winger Michael Kightly and put away a left-foot shot from 12 yards.
Baggies striker Diomansy Kamara wasted two one-on-one chances late on but Wolves earned a sixth successive win.
Wolves boss Mick McCarthy:
"They keep tipping Sunderland to win it, we are only a point behind them so hopefully we can tag along on their coat-tails.
"Our season is not done, we have nine more games starting at Coventry on Tuesday and they are in form too.
"Let's not get carried away and complacent just because we have beat Albion."
West Brom manager Tony Mowbray
"There's nothing wrong with the team, it's fine. If that's the performance we are going to get every week then I have no fears.
"The results have been very, very good. That's only the second game we have lost in three months away from home.
"We are generally controlling games but you've got to stick in your chances."
Wolverhampton: Murray, Edwards, Breen (Craddock 68), Neill Collins, McNamara, McIndoe (Bothroyd 67), Olofinjana, Potter, Kightly (Mark Davies 90), Ward, Keogh.
Subs Not Used: Budtz, Clapham.
Goals: Bothroyd 83.
West Brom: Kiely, McShane (Albrechtsen 85), Curtis Davies, Clement, Robinson, Greening, Chaplow (Carter 67), Koumas, Gera, Kamara, Phillips (MacDonald 63).
Subs Not Used: Daniels, Koren.
Booked: Kamara.
Att: 28,016
Ref: A D'Urso (Essex).