Gas prices in Lexington area dip again during past week: GasBuddy

LEXINGTON, Ky. (WTVQ) – Lexington gas prices have fallen 3.4 cents per gallon in the past week, averaging $2.68/g Monday, according to GasBuddy’s daily survey of 275 stations in Lexington.

Gas prices in Lexington are 1 cent per gallon higher than a month ago and stand $1.20/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $2.52/g Monday while the most expensive is $2.99/g, a difference of 47.0 cents per gallon. The lowest price in the state is $2.33/g while the highest is $2.99/g, a difference of 66.0 cents per gallon.

The national average price of gasoline has fallen 2.1 cents per gallon in the last week, averaging $2.85/g. The national average is down 0.5 cents per gallon from a month ago and stands $1.02/g higher than a year ago.

Historical prices in Lexington and the national average going back 10 years:
April 12, 2020: $1.48/g (U.S. Average: $1.83/g)
April 12, 2019: $2.76/g (U.S. Average: $2.83/g)
April 12, 2018: $2.69/g (U.S. Average: $2.70/g)
April 12, 2017: $2.33/g (U.S. Average: $2.41/g)
April 12, 2016: $2.01/g (U.S. Average: $2.06/g)
April 12, 2015: $2.38/g (U.S. Average: $2.39/g)
April 12, 2014: $3.73/g (U.S. Average: $3.63/g)
April 12, 2013: $3.39/g (U.S. Average: $3.55/g)
April 12, 2012: $3.82/g (U.S. Average: $3.90/g)
April 12, 2011: $3.78/g (U.S. Average: $3.79/g)

Neighboring areas and their current gas prices:
Kentucky- $2.67/g, down 1.5 cents per gallon from last week’s $2.68/g.
Cincinnati- $2.74/g, down 6.8 cents per gallon from last week’s $2.81/g.
Louisville- $2.79/g, down 7.6 cents per gallon from last week’s $2.86/g.

“It has been a fairly tame last few weeks at the pump for most areas after a particularly active February and March when prices were screaming higher,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “After surging back then, we’ve seen the price increases fade, and while we haven’t seen much of a decline, prices have been holding near their yearly highs. For now, it feels like the risk of seeing the national average climb to $3/gal has been delayed by a recent surge in COVID-19 cases both here and abroad, limiting the upside to gasoline demand, but should things begin to improve, especially as we get closer to the start of the summer, we still have potential to see summer gas prices at their highest levels in years. Make no mistake, gas prices this year will be tied to the hip of the Covid situation.”

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