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Gasoline prices on the rise

West Central Kentucky gas prices rose eight cents to $3.43 a gallon this week, according to AAA East Central. That is an eight cent increase over the last three weeks.

A check of Fastway gasoline prices (regular unleaded, self-serve) in Grayson County shows:

720 South Main -- 3.39
308 South Main -- 3.38
802 Main Street -- 3.39
512 Morgantown Road (Caneyville) -- 3.39

On the National Front

Today’s national average price at the pump is $3.43 per gallon. This price is six cents more expensive than one week ago and 14 cents more than one month ago; however national prices remain 35 cents per gallon less than the same date last year.

National pump prices have started to exhibit the seasonal increase motorists are familiar with as we approach spring. While international conflicts or domestic refinery issues exacerbated this run up each of the last three years, the absence of such catalysts has resulted in a less dramatic increase thus far in 2014.

Cold weather and limited demand across the country have helped to keep a lid on gasoline prices so far this year. As the weather warms and refineries begin the switchover to produce more expensive summer-blend gasoline though, pump prices are likely to continue higher, especially if crude oil prices remain elevated. Crude oil prices may be affected in coming weeks by ongoing geopolitical tensions in South Sudan and Venezuela.

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