Average gas prices drop 6 cents in last week in Lexington

LEXINGTON, Ky. (WTVQ/GasBuddy) – Lexington gas prices have fallen 6.1 cents per gallon in the past week, averaging $2.22/g Monday, according to GasBuddy’s daily survey of 275 stations in Lexington.

Gas prices in Lexington are 6.0 cents per gallon higher than a month ago and stand 6.4 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $2.05/g Monday while the most expensive is $2.39/g, a difference of 34.0 cents per gallon. The lowest price in the state is $1.96/g while the highest is $2.49/g, a difference of 53.0 cents per gallon.

The national average price of gasoline has risen 1.9 cents per gallon in the last week, averaging $2.42/g Monday. The national average is up 17.4 cents per gallon from a month ago and stands 5.5 cents per gallon lower than a year ago.

Historical prices in Lexington and the national average going back 10 years:
February 1, 2020: $2.28/g (U.S. Average: $2.47/g)
February 1, 2019: $2.11/g (U.S. Average: $2.27/g)
February 1, 2018: $2.52/g (U.S. Average: $2.60/g)
February 1, 2017: $2.23/g (U.S. Average: $2.27/g)
February 1, 2016: $1.60/g (U.S. Average: $1.79/g)
February 1, 2015: $2.13/g (U.S. Average: $2.05/g)
February 1, 2014: $3.35/g (U.S. Average: $3.27/g)
February 1, 2013: $3.52/g (U.S. Average: $3.47/g)
February 1, 2012: $3.39/g (U.S. Average: $3.45/g)
February 1, 2011: $3.06/g (U.S. Average: $3.09/g)

Neighboring areas and their current gas prices:
Kentucky- $2.22/g, unchanged from last week’s $2.22/g.
Cincinnati- $2.31/g, unchanged from last week’s $2.31/g.
Louisville- $2.36/g, up 2.3 cents per gallon from last week’s $2.34/g.

“Gas price increases continue to slow down as oil prices fail to continue moving upward, even as gasoline demand continues to show new signs of improving recovery,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “According to Pay with GasBuddy data, Friday gasoline demand was the highest since November, while Saturday gasoline demand was the strongest of any Saturday since the pandemic began. The rise in gasoline demand has certainly been behind oil’s rally in the last few months, as COVID restrictions continue to ease and the economy slowly continues recovery. While the next few weeks may see gas prices rising slightly, the real pinch could come in March and lasting through summer, should demand continue on this path.”

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