Average gas prices in region unchanged from last week

Little change from month ago

LEXINGTON, Ky. (WTVQ/GasBuddy) – Average gasoline prices in Lexington are unchanged in the last week, averaging $2.94/g Mondayday, according to GasBuddy’s survey of 275 stations in Lexington. Prices in Lexington are 0.9 cents per gallon lower than a month ago and stand 65.8 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington was priced at $2.68/g Sunday while the most expensive was $3.25/g, a difference of 57.0 cents per gallon. The lowest price in the state Sunday was $2.68/g while the highest was $3.45/g, a difference of 77.0 cents per gallon.

The national average price of gasoline has risen 1.8 cents per gallon in the last week, averaging $3.32/g Monday. The national average is up 3.3 cents per gallon from a month ago and stands 92.0 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical prices in Lexington and the national average going back 10 years:
January 24, 2021: $2.28/g (U.S. Average: $2.40/g)
January 24, 2020: $2.52/g (U.S. Average: $2.53/g)
January 24, 2019: $2.10/g (U.S. Average: $2.28/g)
January 24, 2018: $2.54/g (U.S. Average: $2.57/g)
January 24, 2017: $2.07/g (U.S. Average: $2.29/g)
January 24, 2016: $1.62/g (U.S. Average: $1.82/g)
January 24, 2015: $2.02/g (U.S. Average: $2.03/g)
January 24, 2014: $3.34/g (U.S. Average: $3.28/g)
January 24, 2013: $3.40/g (U.S. Average: $3.32/g)
January 24, 2012: $3.27/g (U.S. Average: $3.38/g)

Neighboring areas and their current gas prices:
Kentucky- $2.96/g, down 1.7 cents per gallon from last week’s $2.98/g.
Cincinnati- $3.01/g, down 5.2 cents per gallon from last week’s $3.06/g.
Louisville- $3.02/g, down 4.2 cents per gallon from last week’s $3.06/g.

“With oil prices remaining elevated, average gas prices inched up in most states over the last week even as gasoline demand weakened, a testament to how concerned oil markets are with unrest in oil producing nations. With all eyes on the Russia/Ukraine situation, oil will likely remain north of $80 per barrel, with additional volatility. Prices could rise even more significantly if there is any further deterioration in the situation,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “For now, I don’t expect any immediate fireworks at the pump, but the trend of rising gas prices will likely persist as worries continue to overpower weak global consumption.”

Categories: Local News, News, State News

Leave a Reply

Your email address will not be published. Required fields are marked *