Gas prices in region up 11 cents, hurricane impact being felt

LEXINGTON, Ky. (WTVQ) – Lexington gas prices have risen 11.4 cents per gallon in the past week, averaging $3.01/g Monday, according to GasBuddy’s daily survey of 275 stations in Lexington.

Gas prices in Lexington are 11.3 cents per gallon higher than a month ago and stand $1.12/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $2.77/g Monday while the most expensive is $3.09/g, a difference of 32.0 cents per gallon. The lowest price in the state is $2.66/g while the highest is $3.29/g, a difference of 63.0 cents per gallon.

The national average price of gasoline has risen 1.3 cents per gallon in the last week, averaging $3.18/g. The national average is up 1.8 cents per gallon from a month ago and stands $1.01/g higher than a year ago.

Historical prices in Lexington and the national average going back 10 years:
September 20, 2020: $1.89/g (U.S. Average: $2.16/g)
September 20, 2019: $2.56/g (U.S. Average: $2.67/g)
September 20, 2018: $2.86/g (U.S. Average: $2.85/g)
September 20, 2017: $2.50/g (U.S. Average: $2.58/g)
September 20, 2016: $2.12/g (U.S. Average: $2.21/g)
September 20, 2015: $2.25/g (U.S. Average: $2.29/g)
September 20, 2014: $3.27/g (U.S. Average: $3.34/g)
September 20, 2013: $3.38/g (U.S. Average: $3.48/g)
September 20, 2012: $3.81/g (U.S. Average: $3.84/g)
September 20, 2011: $3.47/g (U.S. Average: $3.57/g)

Neighboring areas and their current gas prices:
Kentucky- $2.95/g, up 7.7 cents per gallon from last week’s $2.87/g.
Cincinnati- $3.11/g, up 13.9 cents per gallon from last week’s $2.97/g.
Louisville- $3.02/g, up 3.4 cents per gallon from last week’s $2.99/g.

“Gas prices have been stuck in somewhat of a limbo and remain near 2021 highs long after Hurricane Ida has dissipated. The damage done to oil production has been left behind and so far has prevented prices from resuming their seasonal decline,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Ida caused the loss of over 30 million barrels of oil production in the Gulf of Mexico, and with gasoline demand remaining relatively high for the season, oil inventories remain relatively tight, preventing any organized decline in gas prices for the time being. As a result, we may have to wait a couple more weeks until hurricane season slows for oil inventories to start to rise and gas prices to fall.”

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