The average price of gasoline across West Central Kentucky is 10 cents cheaper this week at $2.520 per gallon, according AAA East Central’s Gas Price Report.
Most states in the Great Lakes and Central States saw prices remain the same this week or drop (Kentucky, -8 cents). The region has seen gasoline inventories remain robust at 50 million barrels and regional refinery utilization jumps to 99% – one of the highest rates in the country, per Energy Information Administration (EIA) data. While the region often sees volatility from week-to-week, prices could go downward or remain stable in August if stock levels and utilization remain high.
This week’s average prices: Western Central KY Average $2.520
Average price during the week of July 22, 2019 $2.620
Average price during the week of July 30, 2018 $2.750
Average prices of unleaded self-serve gasoline in various areas:
$2.536 Bowling Green
$2.366 Elizabethtown
$2.786 Louisville
$2.422 Owensboro
$2.491 Paducah
$2.356 Leitchfield
On the National Front
Today’s national average is $2.73. While this is two cents more expensive than at this point last month, it is three cents cheaper than last week and 12-cents less expensive than a year ago. Cheaper gas prices have encouraged summer road trips, as evidenced by robust demand figures since May. AAA will continue to monitor how a potential increase in demand could alter prices nationwide.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate increased by 18 cents to settle at $56.20. Crude prices mostly increased last week after the EIA’s weekly report showed that total domestic crude inventories fell by 10.8 million barrels. With OPEC continuing to reduce crude production, tighter domestic crude supplies could cause prices to continue to increase if demand tightens.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
