Gas prices dip in region, should be stable for Memorial Day: GasBuddy

LEXINGTON, Ky. (WTVQ/GasBuddy) – Lexington gas prices have fallen 2.6 cents per gallon in the past week, averaging $2.82/g Monday, according to GasBuddy’s daily survey
of 275 stations in Lexington.

Gas prices in Lexington are 8.1 cents per gallon higher than a month ago and stand $1.03/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $2.67/g Monday while the most expensive is $2.99/g, a difference of 32.0 cents per gallon. The lowest price in the state as of Monday is $2.56/g while the highest is $3.19/g, a difference of 63.0 cents per gallon.

The national average price of gasoline has fallen 1.9 cents per gallon in the last week, averaging $3.02/g today. The national average is up 14.0 cents per gallon from a month ago and stands $1.07/g higher than a year ago.

Historical prices in Lexington and the national average going back 10 years:
May 24, 2020: $1.79/g (U.S. Average: $1.95/g)
May 24, 2019: $2.60/g (U.S. Average: $2.84/g)
May 24, 2018: $2.95/g (U.S. Average: $2.97/g)
May 24, 2017: $2.41/g (U.S. Average: $2.37/g)
May 24, 2016: $2.36/g (U.S. Average: $2.29/g)
May 24, 2015: $2.70/g (U.S. Average: $2.75/g)
May 24, 2014: $3.86/g (U.S. Average: $3.66/g)
May 24, 2013: $3.56/g (U.S. Average: $3.65/g)
May 24, 2012: $3.56/g (U.S. Average: $3.68/g)
May 24, 2011: $3.77/g (U.S. Average: $3.82/g)

Neighboring areas and their current gas prices:
Kentucky- $2.80/g, down 1.9 cents per gallon from last week’s $2.82/g.
Cincinnati- $2.86/g, down 2.0 cents per gallon from last week’s $2.88/g.
Louisville- $3.03/g, down 1.8 cents per gallon from last week’s $3.04/g.

“In the lead up to Memorial Day, we haven’t seen gas prices come down much, though with oil’s recent move lower, we should start to see more drops at the pump materialize in the days ahead,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “With the Colonial Pipeline situation continuing to improve in Southeastern states, fueling up for the holiday weekend shouldn’t be too challenging, save for a few pockets in GA, NC and SC, where outages remain a bit higher than neighboring states. For those hitting the road, we should see prices inch lower in the coming week through at least Memorial Day, so motorists need not rush to fill their tanks as the drop in oil prices should manifest into lower gas prices as we begin the summer driving season.”

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