Gas prices down from last week, last month

LEXINGTON, Ky. (WTVQ) – Lexington gas prices have fallen 6.4 cents per gallon in the past week, averaging $2.00/g Monday, according to GasBuddy’s daily survey of 275 stations. Gas prices in Lexington are 7.2 cents per gallon higher than a month ago and stand 31.5 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $1.86/g Monday while the most expensive is $2.19/g, a difference of 33.0 cents per gallon. The lowest price in the state is $1.72/g while the highest is $2.29/g, a difference of 57.0 cents per gallon.

The national average price of gasoline has fallen 1.1 cents per gallon in the last week, averaging $2.16/g Monday. The national average is down 1.8 cents per gallon from a month ago and stands 47.2 cents per gallon lower than a year ago.

Historical gasoline prices in Lexington and the national average going back 10 years:
October 12, 2019: $2.31/g (U.S. Average: $2.64/g)
October 12, 2018: $2.75/g (U.S. Average: $2.90/g)
October 12, 2017: $2.43/g (U.S. Average: $2.47/g)
October 12, 2016: $2.23/g (U.S. Average: $2.25/g)
October 12, 2015: $2.31/g (U.S. Average: $2.31/g)
October 12, 2014: $3.11/g (U.S. Average: $3.19/g)
October 12, 2013: $3.40/g (U.S. Average: $3.33/g)
October 12, 2012: $3.67/g (U.S. Average: $3.81/g)
October 12, 2011: $3.31/g (U.S. Average: $3.40/g)
October 12, 2010: $2.84/g (U.S. Average: $2.80/g)

Neighboring areas and their current gas prices:
Kentucky- $1.94/g, down 3.8 cents per gallon from last week’s $1.97/g.
Cincinnati- $1.96/g, down 10.0 cents per gallon from last week’s
Louisville- $2.12/g, down 1.1 cents per gallon from last week’s $2.13/g.

“Average gasoline prices largely remain rangebound as the tug of war between market forces continues to keep prices confined near current levels,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “On one side, the coronavirus situation would be pulling prices down as year-to-date gasoline demand stands some 13% lower than last year, but on the positive side is the possibility of economic stimulus that could boost households ahead of the election if the two parties can manage to agree. For now, with little action on either issue, oil markets are seeing a good amount of speculation and seesawing, and that will continue until we have a clear answer on whether Washington will deliver more economic aid to hard hit Americans.”

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