Gas prices fall from last week, higher than month ago

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Gas station pump

LEXINGTON, Ky. (WTVQ) – Lexington gas prices have fallen 6.1 cents per gallon in the past week, averaging $1.99/g Tuesday, according to GasBuddy’s daily survey of 275 stations.

Gas prices in Lexington are 2.3 cents per gallon higher than a month ago and stand 39.3 cents per gallon lower than a year ago.

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According to GasBuddy price reports, the cheapest station in Lexington is priced at $1.80/g Tuesday while the most expensive is $2.19/g, a difference of 39.0 cents per gallon. The lowest price in the state is $1.59/g while the highest is $2.45/g, a difference of 86.0 cents per gallon.

The national average price of gasoline has fallen 2.8 cents per gallon in the last week, averaging $2.21/g Tuesday. The national average is up 3.7 cents per gallon from a month ago and stands 34.2 cents per gallon lower than a year ago.

Historical gasoline prices in Lexington and the national average going back ten years:

September 8, 2019: $2.38/g (U.S. Average: $2.55/g) September 8, 2018: $2.77/g (U.S. Average: $2.85/g) September 8, 2017: $2.64/g (U.S. Average: $2.67/g) September 8, 2016: $2.00/g (U.S. Average: $2.18/g) September 8, 2015: $2.27/g (U.S. Average: $2.39/g) September 8, 2014: $3.53/g (U.S. Average: $3.43/g) September 8, 2013: $3.52/g (U.S. Average: $3.56/g) September 8, 2012: $3.79/g (U.S. Average: $3.82/g) September 8, 2011: $3.56/g (U.S. Average: $3.65/g) September 8, 2010: $2.72/g (U.S. Average: $2.66/g)

Neighboring areas and their current gas prices:

Kentucky- $1.98/g, down 4.9 cents per gallon from last week’s $2.02/g.

Cincinnati- $2.08/g, down 9.4 cents per gallon from last week’s $2.18/g.

Louisville- $2.19/g, down 7.2 cents per gallon from last week’s $2.27/g.

“Gas prices have started to fall as expected as oil prices have fallen slightly since Hurricane Laura moved on and as seasonal challenges come to into view,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “We’ll likely see additional downward movement in the weeks ahead with gasoline demand set to decline as we move into the fall months and as COVID-19 restrictions keep demand from rallying. It’s entirely possible we could see the national average fall under $2 per gallon by the end of the year without a major improvement in the situation.”