Gas prices in the region almost unchanged in last week

LEXINGTON, Ky. (WTVQ/GasBuddy) – Lexington gas prices have fallen 0.9 cents per gallon in the past week, averaging $2.72/g Monday, according to GasBuddy’s daily survey of 275 stations in Lexington.

Gas prices in Lexington are 19.4 cents per gallon higher than a month ago and stand $1.18/g higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $2.53/g Monday while the most expensive is $2.99/g, a difference of 46.0 cents per gallon. The lowest price in the state is $2.41/g while the highest is $2.97/g, a difference of 56.0 cents per gallon.

The national average price of gasoline has fallen 0.4 cents per gallon in the last week, averaging $2.86/g. The national average is up 9.9 cents per gallon from a month ago and stands 95.5 cents per gallon higher than a year ago.

Historical prices in Lexington and the national average going back 10 years:
April 5, 2020: $1.54/g (U.S. Average: $1.91/g)
April 5, 2019: $2.71/g (U.S. Average: $2.74/g)
April 5, 2018: $2.60/g (U.S. Average: $2.66/g)
April 5, 2017: $2.42/g (U.S. Average: $2.38/g)
April 5, 2016: $2.00/g (U.S. Average: $2.05/g)
April 5, 2015: $2.20/g (U.S. Average: $2.39/g)
April 5, 2014: $3.58/g (U.S. Average: $3.57/g)
April 5, 2013: $3.56/g (U.S. Average: $3.62/g)
April 5, 2012: $3.80/g (U.S. Average: $3.94/g)
April 5, 2011: $3.64/g (U.S. Average: $3.69/g)

Neighboring areas and their current gas prices:
Kentucky- $2.68/g, up 1.2 cents per gallon from last week’s $2.67/g.
Cincinnati- $2.82/g, down 2.8 cents per gallon from last week’s $2.85/g.
Louisville- $2.87/g, up 2.6 cents per gallon from last week’s $2.84/g.

“Last week was a mixed bag for consumers at the pump as gas prices in half of states rose, while the other half saw declines, with March closing like a lamb after starting out like a lion,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Oil prices have shown signs of strength in the last few trading sessions, as OPEC agreed to raise oil production starting in May by a very modest 350,000 barrels per day. Overall, it’s a small increase in output as global demand continues to show strength in light of Covid-related improvements. U.S. gasoline demand rose for the sixth straight week as consumers hit the road for Easter, and with demand growth likely to remain robust, we may see a second attempt at a run at a national average of $3 per gallon in the months ahead. While the last few weeks have seen gas prices hold mostly steady, it’s not likely to last forever, especially as Americans increasingly get outside as warmer temperatures return.”