Ida impact minimal, gas prices in region down from last week

LEXINGTON, Ky. (WTVQ) –  – Lexington gas prices have fallen 2.6 cents per gallon in the past week, averaging $2.94/g Tuesday, according to GasBuddy’s daily survey of 275 stations in Lexington.

Gas prices in Lexington are 3.5 cents per gallon lower than a month ago and stand 95.8 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $2.75/g Tuesday while the most expensive is $3.09/g, a difference of 34.0 cents per gallon. The lowest price in the state Tuesday is $2.63/g while the highest is $3.19/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 $3.17per gallon. The national average is down 1.6 cents per gallon from a month ago and stands 96.4 cents per gallon higher than a year ago.

Historical prices in Lexington and the national average going back 10 years:
September 7, 2020: $1.98/g (U.S. Average: $2.21/g)
September 7, 2019: $2.39/g (U.S. Average: $2.56/g)
September 7, 2018: $2.79/g (U.S. Average: $2.85/g)
September 7, 2017: $2.65/g (U.S. Average: $2.67/g)
September 7, 2016: $2.01/g (U.S. Average: $2.18/g)
September 7, 2015: $2.28/g (U.S. Average: $2.39/g)
September 7, 2014: $3.54/g (U.S. Average: $3.44/g)
September 7, 2013: $3.54/g (U.S. Average: $3.56/g)
September 7, 2012: $3.82/g (U.S. Average: $3.82/g)
September 7, 2011: $3.58/g (U.S. Average: $3.65/g)

Neighboring areas and their current gas prices:
Kentucky- $2.91/g, up 2.4 cents per gallon from last week’s $2.88/g.
Cincinnati- $3.03/g, up 6.2 cents per gallon from last week’s $2.97/g.
Louisville- $3.00/g, down 2.6 cents per gallon from last week’s $3.03/g.

“As expected, Hurricane Ida’s disruption to the oil and refining industry led gas prices to rise over the last week, though thankfully, the rise wasn’t very significant,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “With several Louisiana refineries poised to have power restored in the days ahead, the impact on gas prices could soon reverse, and with gasoline demand now likely to decline with the close of the summer driving season, I see the odds rising that gas prices will soon begin a seasonal downturn, accelerated by the expiration of summer gasoline requirements on September 15. By Halloween, we could see the national average back under $3 per gallon.”

Categories: Featured, Local News, News, State News

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