Gas prices in region dip slightly in last week

LEXINGTON, Ky. (WTVQ/GasBuddy) – Lexington gas prices have fallen 1.1 cents per gallon in the past week, averaging $2.89/g Monday, according to GasBuddy’s daily survey of 275 stations in Lexington.

Gas prices in Lexington are 7.2 cents per gallon lower than a month ago and stand 85.8 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $2.49/g Monday while the most expensive is $2.99/g, a difference of 50.0 cents per gallon. The lowest price in the state is $2.65/g while the highest is $3.19/g, a difference of 54.0 cents per gallon.

The national average price of gasoline has risen 1.7 cents per gallon in the last week, averaging $3.16/g today. The national average is up 3.8 cents per gallon from a month ago and stands 98.2 cents per gallon higher than a year ago.

Historical gasoline prices in Lexington and the national average going back ten years:
August 2, 2020: $2.03/g (U.S. Average: $2.17/g)
August 2, 2019: $2.53/g (U.S. Average: $2.71/g)
August 2, 2018: $2.86/g (U.S. Average: $2.87/g)
August 2, 2017: $2.30/g (U.S. Average: $2.33/g)
August 2, 2016: $1.92/g (U.S. Average: $2.11/g)
August 2, 2015: $2.35/g (U.S. Average: $2.65/g)
August 2, 2014: $3.50/g (U.S. Average: $3.50/g)
August 2, 2013: $3.63/g (U.S. Average: $3.62/g)
August 2, 2012: $3.66/g (U.S. Average: $3.53/g)
August 2, 2011: $3.61/g (U.S. Average: $3.70/g)

Neighboring areas and their current gas prices:
Kentucky- $2.87/g, down 0.7 cents per gallon from last week’s $2.88/g.
Cincinnati- $3.00/g, down 4.9 cents per gallon from last week’s $3.05/g.
Louisville- $3.06/g, up 2.2 cents per gallon from last week’s $3.04/g.

“The downward move in the national average last week was short-lived with the national average rebounding last week on continued strong gasoline demand in the U.S. which has pushed oil prices back up after a brief lull,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “According to GasBuddy data, demand last week set another 2021 high, eclipsing the previous week’s record as we head into the prime of the summer driving season. For the next week or two, we may continue to see gas prices inch higher, but once schools begin re-opening and vacation season ends, we’ll likely see demand trail off, allowing for gas prices to decline gently heading into Labor Day.”

Categories: Featured, Local News, News, State News

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