Gas prices dip slightly, remain ahead of a a year ago

LEXINGTON, Ky. (WTVQ/GasBuddy) – Lexington gas prices have fallen 3.7 cents per gallon
in the past week, averaging $2.32/g Monday, according to GasBuddy’s daily
survey of 275 stations in Lexington.

Gas prices in Lexington are 12.0 cents per gallon higher than a month ago and stand 19.0 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is
priced at $2.16/g Monday while the most expensive is $2.49/g, a difference of
33.0 cents per gallon.

The lowest price in the state is $2.05/g while
the highest is $2.93/g, a difference of 88.0 cents per gallon.

The national average price of gasoline has risen 2.6 cents per gallon in the
last week, averaging $2.50/g Monday. The national average is up 11.0 cents
per gallon from a month ago and stands 5.3 cents per gallon higher than a
year ago.

Gasoline prices in Lexington and the national average going back 10 years:
February 15, 2020: $2.13/g (U.S. Average: $2.45/g)
February 15, 2019: $2.21/g (U.S. Average: $2.31/g)
February 15, 2018: $2.26/g (U.S. Average: $2.54/g)
February 15, 2017: $2.15/g (U.S. Average: $2.28/g)
February 15, 2016: $1.59/g (U.S. Average: $1.69/g)
February 15, 2015: $2.40/g (U.S. Average: $2.25/g)
February 15, 2014: $3.31/g (U.S. Average: $3.33/g)
February 15, 2013: $3.64/g (U.S. Average: $3.65/g)
February 15, 2012: $3.38/g (U.S. Average: $3.52/g)
February 15, 2011: $2.99/g (U.S. Average: $3.12/g)

Neighboring areas and their current gas prices:
Kentucky- $2.30/g, up 2.0 cents per gallon from last week’s $2.28/g.
Cincinnati- $2.45/g, up 16.4 cents per gallon from last week’s $2.29/g.
Louisville- $2.44/g, up 1.1 cents per gallon from last week’s $2.43/g.

“It’s not surprising that gasoline prices continue to follow oil prices higher, as the national average now stands at its highest level since January 2020 as Pay with GasBuddy data shows U.S. gasoline demand rose over two percent last week,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The rise in gas prices continues to be driven by improving demand in the United States, and has nothing to do with who sits in the White
House, but rather how many motorists are filing their tanks on a daily basis, and from that data, it’s no guess, but prices will continue to trend higher. This situation will last as long as OPEC continues to restrain their oil production, creating the situation we’re in where demand is recovering faster than demand. The situation won’t get better, just wait until spring, it’s likely the national average will rise another 10 to as much as 50 cents per gallon if oil production doesn’t respond to the continued recovery in demand.”