While Kentucky gas prices slowed their ascent this week compared to last, gas prices across the nation took a bigger jump at the pump with the national average climbing more than 10 cents in the past week.
Kentucky’s current gas price is $2.89, now 7 cents higher than a week ago. Today’s price means Kentucky has the 10th cheapest gas in the nation after posting the fourth least expensive gas a mere two weeks ago. Despite recent increases, the current gas price average in Kentucky for a gallon of regular is still 38 cents lower than a year ago.
After its dramatic 31-cent climb last week, the gas price average for Lexington has slowed, dropping a penny overnight to $2.95, just a penny higher than one week ago. Covington has one of the highest gas price averages among Kentucky metro areas at $3.13 after a 5-cent climb this week. Louisville is the only other major metro area trending over the $3 mark at $3.01. There are, however, several counties averaging above the $3 mark. Gas prices in northern Kentucky and some parts of Central Kentucky are trending higher than the rest of the state.
Here’s a look at the highs and lows among gas price averages by county in Kentucky:
Kentucky’s top 10 most expensive gasoline markets by county are Pendleton ($3.18), Kenton ($3.17), Boone ($3.15), Carroll ($3.15), Campbell ($3.11), Grant ($3.09), Jefferson ($3.06), Magoffin ($3.04), Oldham ($3.33), and Lewis ($3.02).
Kentucky’s top 10 least expensive gasoline markets by county are Bell ($2.65), Carter ($2.67), Metcalfe ($2.69), Logan ($2.71), Barren ($2.71), Hardin ($2.72), Monroe ($2.73), Simpson ($2.73), Breckenridge ($2.74) and Taylor ($2.74).
Gas prices made a bigger jump this past week in other regions, with the national average for a gallon of regular going up by more than a dime to $3.26. Several factors are driving the increase, including refinery maintenance and the switch to summer-blend gasoline. The last time the national average reached $3.26 was back in September, consistent with seasonal shifts, but current prices remain below what they were this time last year.
Thursday’s national average for a gallon of gas is 11 cents higher than one week ago, a 17-cent climb above the average price a month ago but 28 cents lower than a year ago.
According to new data from the Energy Information Administration (EIA), gasoline demand decreased from 8.64 b/d last week to 8.49. Total domestic gasoline supply de-creased from 239.1 million barrels to 237.6. Gasoline production increased last week, averaging 9.3 million barrels per day.
At the close of Wednesday’s formal trading session, West Texas Intermediate oil prices rose 51 cents to settle at $71.71 a barrel. The EIA reports that crude oil inventories increased by 6.2 million bar-rels from the previous week. At 439.8 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
The nation’s top 10 most expensive gasoline markets are California ($4.91), Hawaii ($4.52), Washington ($4.30), Nevada ($3.99), Oregon ($3.93), Alaska ($3.53), Illinois ($3.52), Arizona ($3.42), Idaho ($3.38), and Pennsylvania ($3.37).
The nation’s top 10 least expensive gasoline markets are Mississippi ($2.74), Tennessee ($2.80), Oklahoma ($2.81), Louisiana ($2.82), Alabama ($2.85), Texas ($2.87), Arkansas ($2.87), Kansas ($2.87), South Carolina ($2.87), and Kentucky ($2.89).
The nation’s top 10 most expensive states for public charging per kilowatt hour are Hawaii (56 cents), West Virginia (46 cents), Montana (44 cents), Tennessee (42 cents), South Carolina (42 cents), Idaho (42 cents), Alaska (41 cents), Kentucky (40 cents), Louisiana (40 cents), and New Hampshire (40 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (22 cents), Missouri (25 cents), Iowa (26 cents), North Dakota (26 cents), Nebraska (27 cents), Delaware (27 cents), Texas (29 cents), Washington, DC (30 cents), Utah (30 cents), and Maryland (30 cents).
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