Gas prices edge up again, still below a year ago

0
454
Gas station pump

LEXINGTON, Ky. (GasBuddy/WTVQ) – Lexington gas prices have risen 3.4 cents per gallon in the past week, averaging $2.28/g Monday, according to GasBuddy’s daily survey
of 275 stations.

Gas prices in Lexington are 7.7 cents per gallon higher than a month ago and stand 22.2 cents per gallon lower than a year ago.

- Advertisement -

According to GasBuddy price reports, the cheapest station in Lexington is $2.04/g while the most expensive is $2.39/g, a difference of 35.0 cents per gallon. The lowest price in the state Monday is $1.98/g while the highest is $2.44/g, a difference of 46.0 cents per gallon.

The national average price of gasoline has risen 1.1 cents per gallon in the last week, averaging $2.40/g today. The national average is up 14.4 cents per gallon from a month ago and stands 12.6 cents per gallon lower than a year ago.

Historical prices in Lexington and the national average going back 10 years:
January 25, 2020: $2.51/g (U.S. Average: $2.52/g)
January 25, 2019: $2.08/g (U.S. Average: $2.28/g)
January 25, 2018: $2.53/g (U.S. Average: $2.57/g)
January 25, 2017: $2.07/g (U.S. Average: $2.29/g)
January 25, 2016: $1.61/g (U.S. Average: $1.82/g)
January 25, 2015: $2.16/g (U.S. Average: $2.02/g)
January 25, 2014: $3.30/g (U.S. Average: $3.28/g)
January 25, 2013: $3.39/g (U.S. Average: $3.33/g)
January 25, 2012: $3.25/g (U.S. Average: $3.38/g)
January 25, 2011: $3.00/g (U.S. Average: $3.09/g)

Neighboring areas and their current gas prices:
Kentucky- $2.21/g, unchanged  from last week’s $2.21/g.
Cincinnati- $2.32/g, down 5.2 cents per gallon from last week’s $2.37/g.
Louisville- $2.34/g, down 0.4 cents per gallon from last week’s $2.35/g.

“Finally, after several weeks of sharply rising gas prices, the pace of price increases has slowed significantly in recent days as prices are now largely caught up to oil’s increases as of late,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “While the national average remains at its highest level since the pandemic, increases are likely to slow down in the immediate short-term unless and until oil prices see renewed momentum. When it comes to demand, Pay with GasBuddy data showed last week’s gasoline demand at its highest level since November, another bullish factor as the nation continues to see slow improvement from the pandemic.”