Average gas prices drop a nickel locally in last week

LEXINGTON, Ky. (WTVQ/GasBuddy) – Lexington gas prices have fallen 5.3 cents per gallon in the past week, averaging $1.97/g Monday, according to GasBuddy’s daily survey of 275 stations.

Gas prices in Lexington are 11.7 cents per gallon lower than a month ago and stand 48.8 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $1.78/g Monday while the most expensive is $2.15/g, a difference of 37.0 cents per gallon. The lowest price in the state is $1.57/g while the highest is $2.47/g, a difference of 90.0 cents per gallon.

The national average price of gasoline has fallen 2.7 cents per gallon in the last week, averaging $2.12/g today. The national average is down 6.1 cents per gallon from a month ago and stands 48.0 cents per gallon lower than a year ago.

Historical gasoline prices in Lexington and the national average going back 10 years:
November 2, 2019: $2.45/g (U.S. Average: $2.60/g)
November 2, 2018: $2.47/g (U.S. Average: $2.75/g)
November 2, 2017: $2.47/g (U.S. Average: $2.51/g)
November 2, 2016: $2.09/g (U.S. Average: $2.21/g)
November 2, 2015: $2.15/g (U.S. Average: $2.19/g)
November 2, 2014: $2.93/g (U.S. Average: $2.97/g)
November 2, 2013: $3.34/g (U.S. Average: $3.25/g)
November 2, 2012: $3.41/g (U.S. Average: $3.49/g)
November 2, 2011: $3.42/g (U.S. Average: $3.43/g)
November 2, 2010: $2.75/g (U.S. Average: $2.78/g)

Neighboring areas and their current gas prices:
Kentucky- $1.90/g, down 5.3 cents per gallon from last week’s $1.95/g.
Cincinnati- $1.98/g, down 9.4 cents per gallon from last week’s $2.07/g.
Louisville- $2.04/g, down 8.5 cents per gallon from last week’s $2.12/g.

“The drop in gas prices has accelerated in the last week as oil prices continue to slide on uncertainty over the election, stimulus and as coronavirus case counts soar, leading to more states rolling back their reopening plans,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “In just the last few days, it feels like uncertainty over a potential legal fight over the U.S. election has also risen to near panic levels, all of which throws more uncertainty into the ring, keeping the U.S. from potentially having a clear leader to turn things around. For now, it’s virtually guaranteed that the national average will fall to under $2 per gallon in the next two weeks, so motorists need not be in a rush to fill their tanks.”

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