Area gas prices dip again, likely will remain lower this week

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LEXINGTON, Ky. (WTVQ) – Lexington gas prices have fallen 5.3 cents per gallon in the past week, averaging $1.99/g Monday, according to GasBuddy’s daily survey of 275 stations.

Gas prices in Lexington are 6.8 cents per gallon lower than a month ago and stand 44.3 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 $1.72/g Monday while the most expensive is $2.09/g, a difference of 37.0 cents per gallon. The lowest price in the state is $1.54/g while the highest is $2.29/g, a difference of 75.0 cents per gallon.

The national average price of gasoline has fallen 1.5 cents per gallon in the last week, averaging $2.10/g Monday. The national average is down 5.0 cents per gallon from a month ago and stands 49.6 cents per gallon lower than a year ago.

Historical gasoline prices in Lexington and the national average going back 10 years:
November 23, 2019: $2.43/g (U.S. Average: $2.59/g)
November 23, 2018: $2.17/g (U.S. Average: $2.55/g)
November 23, 2017: $2.28/g (U.S. Average: $2.51/g)
November 23, 2016: $2.04/g (U.S. Average: $2.12/g)
November 23, 2015: $1.93/g (U.S. Average: $2.06/g)
November 23, 2014: $2.72/g (U.S. Average: $2.81/g)
November 23, 2013: $3.34/g (U.S. Average: $3.25/g)
November 23, 2012: $3.57/g (U.S. Average: $3.43/g)
November 23, 2011: $3.20/g (U.S. Average: $3.32/g)
November 23, 2010: $2.75/g (U.S. Average: $2.85/g)

Neighboring areas and their current gas prices:
Kentucky- $1.87/g, down 3.3 cents per gallon from last week’s $1.91/g.
Cincinnati- $1.88/g, down 7.7 cents per gallon from last week’s $1.96/g.
Louisville- $1.96/g, down 6.3 cents per gallon from last week’s $2.02/g.

“With Thanksgiving nearly upon us and fewer Americans hitting the road, gas prices have seen some downward movement over the last week, even as oil prices hold near recent highs,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “We may end up seeing the lowest Thanksgiving prices in five years if prices continue to trend lower this week, a sign of how the coronavirus has sapped demand for the majority of the year. Between now and the end of the year, we aren’t likely to see many fireworks at the pump as demand continues to remain well below prior years, but as a vaccine is set to be released in the months ahead, prices will likely aim for higher ground, so motorists take heed that today’s prices may not hold for much longer.”