Gas prices in Lexington area down a penny in last week: GasBuddy

Prices almost a dime lower than month ago

LEXINGTON, Ky. (WTVQ/GasBuddy) – Lexington gas prices have fallen 1 cent per gallon in the past week, averaging $2.94/g Monday, according to GasBuddy’s daily survey of 275 stations in Lexington. Gas prices in Lexington are 8.6 cents per gallon lower than a month ago and stand 78.9 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $2.71/g Monday while the most expensive is $3.25/g, a difference of 54.0 cents per gallon. The lowest price in the state is $2.50/g while the highest is $3.49/g, a difference of 99.0 cents per gallon.

The national average price of gasoline has fallen 1 cent per gallon in the last week, averaging $3.27/g Monday. The national average is down 9.1 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:
January 3, 2021: $2.15/g (U.S. Average: $2.24/g)
January 3, 2020: $2.53/g (U.S. Average: $2.59/g)
January 3, 2019: $1.92/g (U.S. Average: $2.26/g)
January 3, 2018: $2.43/g (U.S. Average: $2.49/g)
January 3, 2017: $2.40/g (U.S. Average: $2.35/g)
January 3, 2016: $1.90/g (U.S. Average: $1.99/g)
January 3, 2015: $2.09/g (U.S. Average: $2.20/g)
January 3, 2014: $3.32/g (U.S. Average: $3.32/g)
January 3, 2013: $3.25/g (U.S. Average: $3.29/g)
January 3, 2012: $3.24/g (U.S. Average: $3.27/g)

Neighboring areas and their current gas prices:
Kentucky- $2.92/g, down 0.9 cents per gallon from last week’s $2.93/g.
Cincinnati- $2.94/g, down 3.0 cents per gallon from last week’s $2.97/g.
Louisville- $2.96/g, down 2.7 cents per gallon from last week’s $2.98/g.

“After a pretty long run of falling gas prices, we’ve seen things stabilize. Oil prices have started to rise as omicron hasn’t been as severe as initially feared, leading to optimism that perhaps oil demand will start to rise in the weeks ahead as cases will eventually plateau,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “In addition, Great Lakes states were expected to see a price hike last week, but the hike hasn’t happened just yet, leading me to believe it will occur in short order this week and send the national average higher. For the rest of the nation, with oil near $76 per barrel, we will likely see gas price decreases replaced by minor price increases.”

Categories: Featured, Local News, News