Area’s gas prices down again from last week

LEXINGTON, Ky. (WTVQ/GasBuddy) – Lexington gas prices have fallen 6.6 cents per gallon in the past week, averaging $2.06/g Monday, according to GasBuddy’s daily survey of 275 stations.

Gas prices in Lexington are 6.9 cents per gallon higher than a month ago and stand 43.0 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $1.84/g Monday while the most expensive is $2.22/g, a difference of 38.0 cents per gallon. The lowest price in the state is $1.69/g while the highest is $2.37/g, a difference of 68.0 cents per gallon.

The national average price of gasoline has fallen 0.7 cents per gallon in the last week, averaging $2.17/g Monday. The national average is down 4.3 cents per gallon from a month ago and stands 49.0 cents per gallon lower than a year ago.

Historical  prices in Lexington and the national average going back 10 years:
October 5, 2019: $2.49/g (U.S. Average: $2.66/g)
October 5, 2018: $2.89/g (U.S. Average: $2.91/g)
October 5, 2017: $2.28/g (U.S. Average: $2.50/g)
October 5, 2016: $2.29/g (U.S. Average: $2.25/g)
October 5, 2015: $2.27/g (U.S. Average: $2.29/g)
October 5, 2014: $3.28/g (U.S. Average: $3.29/g)
October 5, 2013: $3.19/g (U.S. Average: $3.34/g)
October 5, 2012: $3.68/g (U.S. Average: $3.79/g)
October 5, 2011: $3.20/g (U.S. Average: $3.39/g)
October 5, 2010: $2.74/g (U.S. Average: $2.72/g)

Neighboring areas and their current gas prices:
Kentucky- $1.97/g, down 1.8 cents per gallon from last week’s $1.99/g.
Cincinnati- $2.08/g, down 1 cent per gallon from last week’s $2.09/g.
Louisville- $2.08/g, down 6.0 cents per gallon from last week’s $2.14/g.

“It’s been a fairly quiet week for gas prices yet again, but with oil tanking last week, there’s a possibility motorists may see a renewed downward direction in average prices in the days or weeks ahead,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “However, according to Pay with GasBuddy data, gasoline demand inexplicably rose last week to the highest level since August, breaking with conventional wisdom that fall demand is typically weak. While we have no direct reasoning for the rebound, five of seven days last week saw much above the prior week’s gasoline demand, in fact, Friday saw the highest gasoline demand since Labor Day. If demand continues to somehow defy such conventional trends, we may see an end to the possibility of future declines.”

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