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Posted: Tuesday, 29 July 2014 11:05AM

Fuel prices continue to fall, but for how much longer?



West Central gas prices continue to fall, as the average price in Kentucky for a gallon of unleaded fuel is $3.35. Nationally, Americans are paying the lowest average price at the pump since March 17, according to AAA.

AAA says the drop in fuel cost is associated with U.S. refineries running near their highest levels since 2005, and a domestic fuel demand which, according to the Energy Information Administration, has subsided to below nine million barrels per day.

AAA states that, “the national average price for unleaded gasoline has dropped every day in July and has fallen on 32 consecutive days.”

Over the last 30 days, the average price of fuel has fallen .35 cents in Kentucky.

Locally, the Fastway retail locations at 720 South Main and 802 Main Streets are selling regular unleaded fuel for $3.37 per gallon, while the Fastway location at 308 South Main Street is selling gas for $3.36 per gallon.

Regionally, the average retail price of unleaded fuel is $3.15 in Elizabethtown, $3.38 in Bowling Green, $3.32 in Owensboro, and $3.53 in Louisville.

According to GasBuddy.com, the lowest price for unleaded gasoline in Kentucky is in Carrollton ($2.96), with the highest fuel prices in Jeffersontown ($4.09).

AAA warns, though, that “the global oil market continues to closely monitor the situation abroad, including tensions between Ukraine and Russia, Hamas and Israel, and production issues in Libya die to civil unrest. These events have yet to impact global supply, but have been cited by analysts as factors keeping a ‘floor’ under crude oil prices and may limit how far U.S. pump prices can fall.”
   
 

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Topics : Business_Finance
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Locations : ElizabethtownJeffersontownKentuckyLouisville
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