As demand slips, so do gas prices in Lexington region

LEXINGTON, Ky. (WTVQ/GasBuddy) – Lexington gas prices have fallen 4.2 cents per gallon in the past week, averaging $2.89/g Monday, according to GasBuddy’s daily survey of 275 stations in Lexington.

Gas prices in Lexington are 5.0 cents per gallon lower than a month ago and 97.5 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is $2.68/g Monday while the most expensive is $3.00/g, a difference of 32.0 cents per gallon. The lowest price in the state is $2.61/g while the highest is $3.15/g, a difference of 54.0 cents per gallon.

The national average price of gasoline has fallen 1.9 cents per gallon in the last week, averaging $3.15/g. The national average is down 2.8 cents per gallon from a month ago and stands 97.7 cents per gallon higher than a year ago.

Historical prices in Lexington and the national average going back 10 years:
September 13, 2020: $1.92/g (U.S. Average: $2.17/g)
September 13, 2019: $2.30/g (U.S. Average: $2.56/g)
September 13, 2018: $2.79/g (U.S. Average: $2.85/g)
September 13, 2017: $2.59/g (U.S. Average: $2.64/g)
September 13, 2016: $2.13/g (U.S. Average: $2.18/g)
September 13, 2015: $2.19/g (U.S. Average: $2.34/g)
September 13, 2014: $3.41/g (U.S. Average: $3.40/g)
September 13, 2013: $3.43/g (U.S. Average: $3.52/g)
September 13, 2012: $3.96/g (U.S. Average: $3.87/g)
September 13, 2011: $3.59/g (U.S. Average: $3.64/g)

Neighboring areas and their current gas prices:
Kentucky- $2.87/g, down 3.8 cents per gallon from last week’s $2.91/g.
Cincinnati- $2.98/g, down 5.0 cents per gallon from last week’s $3.03/g.
Louisville- $2.94/g, down 6.6 cents per gallon from last week’s $3.00/g.

“Sagging U.S. gasoline demand along with continued recovery after Hurricane Ida have helped gas prices edge slightly lower in most states from where they were a week ago. But with Tropical Storm Nicholas threatening another key area of refineries in Houston with significant rain, we could see the decline in prices hit the pause button,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “While Nicholas would appear to be a minor storm, we could see a deluge of water – the same issue that caused some significant damage in Ida’s wake to refineries in Louisiana. Combined with the earlier storm, Nicholas could make things more challenging. However, as gasoline demand has now fallen for four straight weeks, there is more breathing room even if some capacity does temporarily go offline. It’s too early to tell, clearly, but motorists should be aware.”

Categories: Featured, Local News, News, State News

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