Gas prices locally and nationally on the rise

LEXINGTON, Ky. (WTVQ) – While weekly gas prices in Lexington might be slightly lower, gas prices are trending up around the nation.

According to GasBuddy’s daily survey of 275 stations in Lexington, gas prices are down 1.3 cents per gallon in the past week. However, Lexington gas prices are 6.6 cents per gallon higher than last month and are 93.9 cents per gallon higher than last year.

GasBuddy’s price reports state that the cheapest station in Lexington today is priced at $2.75/g and the highest is $2.99/g, a difference of 24 cents per gallon. In the state, the lowest price today is $2.53/g and the highest is $3.29/g, a difference of 76 cents per gallon.

Nationally, gas prices have gone up 1.6 cents per gallon since last week, averaging $3.07/g. Compared to a month ago, the average is up 3.7 cents per gallon and compared to a year ago, the average is 97.7 cents per gallon higher.

Below are the gas prices in Lexington and the national average over the past 10 years:

June 14, 2020: $1.99/g (U.S. Average: $2.09/g)
June 14, 2019: $2.44/g (U.S. Average: $2.69/g)
June 14, 2018: $2.84/g (U.S. Average: $2.91/g)
June 14, 2017: $2.20/g (U.S. Average: $2.31/g)
June 14, 2016: $2.43/g (U.S. Average: $2.38/g)
June 14, 2015: $2.72/g (U.S. Average: $2.81/g)
June 14, 2014: $3.86/g (U.S. Average: $3.66/g)
June 14, 2013: $3.52/g (U.S. Average: $3.62/g)
June 14, 2012: $3.48/g (U.S. Average: $3.53/g)
June 14, 2011: $3.59/g (U.S. Average: $3.69/g)

GasBuddy also provided comparisons of neighboring areas and their current gas prices:

Kentucky- $2.87/g, up 1.7 cents per gallon from last week’s $2.85/g.
Cincinnati- $3.12/g, up 14.7 cents per gallon from last week’s $2.98/g.
Louisville- $3.01/g, down 7.2 cents per gallon from last week’s $3.09/g.

“We’ve seen the national average gas price continue to inch higher as oil prices have reached $71 per barrel, the highest since 2018, as gasoline demand continues to rebound,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Strong gasoline demand as states and cities reopen will likely continue to be a major factor keeping gas prices elevated even as oil production climbs in the months ahead. With most additional supply being gobbled up very quickly, gas prices will likely stay at elevated levels for the foreseeable future. Motorists can continue to fight the high gas prices by remembering to shop around each time they get below half a tank.”

Categories: Featured, Local News, National News, News, State News

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