Gas prices up in region, state; may fall again

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LEXINGTON, Ky. (WTVQ/GasBuddy) – Lexington gas prices have risen 17.0 cents per gallon in the past week, averaging $2.14/g Monday, according to GasBuddy’s daily survey of 275 stations.

Gas prices in Lexington are 5.0 cents per gallon higher than a month ago and stand 23.9 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 $1.79/g Monday while the most expensive is $2.59/g, a difference of 80.0 cents per gallon. The lowest price in the state is $1.64/g while the highest is $2.22/g, a difference of 58.0 cents per gallon.

The national average price of gasoline has fallen 0.9 cents per gallon in the last week, averaging $2.17/g Monday. The national average is down 6.4 cents per gallon from a month ago and stands 47.4 cents per gallon lower than a year ago.

Gasoline prices in Lexington and the national average going back 10 years:
September 28, 2019: $2.38/g (U.S. Average: $2.65/g)
September 28, 2018: $2.82/g (U.S. Average: $2.87/g)
September 28, 2017: $2.38/g (U.S. Average: $2.56/g)
September 28, 2016: $2.19/g (U.S. Average: $2.21/g)
September 28, 2015: $2.37/g (U.S. Average: $2.29/g)
September 28, 2014: $3.41/g (U.S. Average: $3.33/g)
September 28, 2013: $3.28/g (U.S. Average: $3.40/g)
September 28, 2012: $3.77/g (U.S. Average: $3.78/g)
September 28, 2011: $3.32/g (U.S. Average: $3.45/g)
September 28, 2010: $2.58/g (U.S. Average: $2.67/g)

Neighboring areas and their current gas prices:
Kentucky- $1.99/g, up 6.4 cents per gallon from last week’s $1.92/g.
Cincinnati- $2.11/g, up 10.4 cents per gallon from last week’s $2.01/g.
Louisville- $2.14/g, up 0.5 cents per gallon from last week’s $2.14/g.

“Higher oil prices caused most states to see gas prices inch higher, with the national average rising ever so slightly in the last week, breaking its three-week streak of declines. However, the rise is likely temporary as oil prices that had pushed higher gave up their gains last week and closed near the low-side of the range they’ve been in for quite
some time,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “According to Pay with GasBuddy data, gasoline demand declined again last week, falling nearly 1% from the prior week, largely in line with expectations as we head into the first full week of fall. While the Atlantic is finally silent- likely temporary- really the only upside we could see over the coming months would be borne out of hurricane season, or if a COVID-19 vaccine proves successful in pushing demand back closer to normal.”