Gas prices jump 8 cents during the last week, lower than month ago

Gas station pump

LEXINGTON, Ky. (WTVQ/GasBuddy) – Lexington gas prices have risen 8.6 cents per gallon in the past week, averaging $2.03/g Monday, according to GasBuddy’s daily survey of 275 stations.

Gas prices in Lexington are 11.4 cents per gallon lower than a month ago and stand 29.4 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 $1.78/g Monday while the most expensive is $2.18/g, a difference of 40.0 cents per gallon. The lowest price in the state  is $1.64/g while the highest is $2.49/g, a difference of 85.0 cents per gallon.

The national average price of gasoline is unchanged  in the last week, averaging $2.14/g Monday. The national average is down 4.2 cents per gallon from a month ago and stands 45.5 cents per gallon lower than a year ago.

Historical gasoline prices in Lexington and the national average going back 10 years:
October 26, 2019: $2.32/g (U.S. Average: $2.60/g)
October 26, 2018: $2.55/g (U.S. Average: $2.82/g)
October 26, 2017: $2.24/g (U.S. Average: $2.45/g)
October 26, 2016: $2.23/g (U.S. Average: $2.22/g)
October 26, 2015: $2.04/g (U.S. Average: $2.19/g)
October 26, 2014: $3.13/g (U.S. Average: $3.04/g)
October 26, 2013: $3.25/g (U.S. Average: $3.29/g)
October 26, 2012: $3.29/g (U.S. Average: $3.57/g)
October 26, 2011: $3.32/g (U.S. Average: $3.43/g)
October 26, 2010: $2.73/g (U.S. Average: $2.79/g)

Neighboring areas and their current gas prices:
Kentucky- $1.95/g, up 4.6 cents per gallon from last week’s $1.91/g.
Cincinnati- $2.09/g, up 14.5 cents per gallon from last week’s $1.95/g.
Louisville- $2.14/g, up 5.5 cents per gallon from last week’s $2.08/g.

“Gas price trends continue to be typical for this time of year, easing slightly in most places as demand continues its slow seasonal drop, with potential enhancement from the recent surge in new coronavirus cases,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “More stations are falling back under $2 per gallon, in fact the highest amount of stations since May are now under that level, and I do believe that trend will continue at least for now as improvement in the coronavirus situation remains elusive. There may be minor disruption in price and localized supply challenges as Tropical Storm Zeta again takes aim for the Gulf Coast, but like we’ve seen with Laura, Sally and Delta, these issues have been very minor compared to a normal year due to the reduction in our gasoline appetite.”