Average gas prices in the region unchanged from last week

GasBuddy numbers show prices a nickel lower from last month, $1.11 higher than year ago

LEXINGTON, Ky. (WTVQ/GasBuddy) – Lexington gas prices are unchanged in the past week, averaging $3.03/g Monday, according to GasBuddy’s daily survey of 275 stations in Lexington. Gas prices in Lexington are 4.7 cents per gallon lower than a month ago and stand $1.11/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $2.81/g while the most expensive is $3.21/g, a difference of 40.0 cents per gallon. The lowest price in the state Monday is $2.78/g while the highest is $3.45/g, a difference of 67.0 cents per gallon.

The national average price of gasoline has fallen 3.4 cents per gallon in the last week, averaging $3.37/g. The national average is down 1.4 cents per gallon from a month ago and stands $1.26/g higher than a year ago.

Historical prices in Lexington and the national average going back five years:
November 29, 2020: $1.92/g (U.S. Average: $2.11/g)
November 29, 2019: $2.27/g (U.S. Average: $2.59/g)
November 29, 2018: $2.07/g (U.S. Average: $2.48/g)
November 29, 2017: $2.44/g (U.S. Average: $2.49/g)
November 29, 2016: $2.23/g (U.S. Average: $2.15/g)

Neighboring areas and their current gas prices:
Kentucky- $3.05/g, down 0.8 cents per gallon from last week’s $3.06/g.
Cincinnati- $3.18/g, down 4.1 cents per gallon from last week’s $3.22/g.
Louisville- $3.07/g, down 2.3 cents per gallon from last week’s $3.09/g.

“Gas price declines are slowly picking up momentum. With oil’s recent fall and the jury out on a new Covid variant, Omicron, we could be in store for lower prices based on many countries turning back to travel restrictions, limiting oil demand and potentially accelerating the drop in gas prices,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “There remains a very high level of uncertainty ahead of us as OPEC has also delayed its meetings to await more market movements and information on Omicron. But so far, Americans can expect the new variant to push gas prices even lower. Beyond the next few weeks, it remains nearly impossible to predict where oil and gas prices will head, though turbulence is guaranteed.”

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