Lexington area gas prices up 11 cents, average above $3.20

Average prices up almost 30 cents from month ago

LEXINGTON, Ky. (WTVQ/GasBuddy) – Average gasoline prices in Lexington have risen 11.8 cents per gallon in the last week, averaging $3.23/g Monday, according to GasBuddy’s survey of 275 stations in Lexington. Prices in Lexington are 29.3 cents per gallon higher than a month ago and stand 91.4 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington was priced at $2.98/g Sunday while the most expensive was $3.36/g, a difference of 38.0 cents per gallon. The lowest price in the state Sunday was $2.68/g while the highest was $3.55/g, a difference of 87.0 cents per gallon.

The national average price of gasoline has risen 4.6 cents per gallon in the last week, averaging $3.47/g Monday. The national average is up 16.5 cents per gallon from a month ago and stands 97.2 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical prices in Lexington and the national average going back 10 years:
February 14, 2021: $2.32/g (U.S. Average: $2.50/g)
February 14, 2020: $2.15/g (U.S. Average: $2.43/g)
February 14, 2019: $2.22/g (U.S. Average: $2.30/g)
February 14, 2018: $2.28/g (U.S. Average: $2.55/g)
February 14, 2017: $2.17/g (U.S. Average: $2.28/g)
February 14, 2016: $1.54/g (U.S. Average: $1.69/g)
February 14, 2015: $2.41/g (U.S. Average: $2.24/g)
February 14, 2014: $3.33/g (U.S. Average: $3.33/g)
February 14, 2013: $3.66/g (U.S. Average: $3.63/g)
February 14, 2012: $3.39/g (U.S. Average: $3.51/g)

Neighboring areas and their current gas prices:
Kentucky- $3.20/g, up 7.7 cents per gallon from last week’s $3.13/g.
Cincinnati- $3.24/g, down 3.5 cents per gallon from last week’s $3.28/g.
Louisville- $3.25/g, up 3.0 cents per gallon from last week’s $3.22/g.

“The jump in gasoline prices has continued unabated as oil prices continue to push higher, reaching $94 per barrel last week on continued concern over the possible imminent threat that Russia may invade Ukraine,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Not only are oil prices up, but the bulk of the nation is starting the multi-month transition to summer gasoline, further adding to the rise at the pump. In addition, cold weather in Texas last week caused some power outages at major refineries, further weighing on markets. I see no other potentials in the short term but additional price increases unless Russia does an about-face on Ukraine. Even then, we’ll still see seasonality push prices up, so motorists should be ready to dig deeper.”

Categories: Local News, News

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