By Tom Latek
Kentucky Today
Gas prices in Kentucky have fallen to their lowest level since early March, a trend that is also being seen nationwide, according to GasBuddy.com, a website and mobile app that tracks fuel prices across the U.S. and Canada.
As of Thursday morning, the average price for regular gas in Kentucky stood at $3.10 per gallon. That is down eight cents from a week ago, 30 cents cheaper than at this point in October, and 34 cents less than a year ago.
It’s a similar story across the country, where the average $3.42 price per gallon is down eight cents from last week, 36 cents less than Oct. 2, and a decrease of 34 cents compared to a year ago.
The fall in gasoline prices is tied to seasonal factors, including declining gasoline consumption as colder weather keeps Americans inside, as well as the changeover to winter gasoline, which has now occurred in every state.
“The decline in gas prices has been astounding, but not completely surprising as we finally get back to a more typical fall, which in recent years has seen impacts from COVID and Russia’s war on Ukraine disrupting seasonal changes,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “GasBuddy anticipates the drop could continue into November and December, with the national average falling another 10 to 20 cents in the weeks ahead, so long as the violence in the Middle East does not spread or jump to other countries.”
Last Christmas, Kentucky had an average price of $2.79 per gallon. The last time it was lower than that was during the height of the COVID-19 pandemic in the spring of 2020, when the lack of demand saw prices fall to $1.39. That was the lowest price during the past 11 years, according to GasBuddy.
To find the lowest gas prices in your area, go to kentuckygasprices.com. You can also download mobile versions at the Android and iPhone stores.