Despite increased demand, gas prices dipped lower this week, with the national average at $3.07 per gallon, about 3 cents lower than a week ago. This drop at the pump comes as many travelers gear up to hit the road for spring break and drivers may be surprised to find gas under $3 in 31 states.
The national average per kilowatt hour of electricity at a public EV charging station remains the same at 34 cents.
“Kentucky now has the third lowest gas prices in the nation, just as travelers are gearing up for spring travel,” said Lori Weaver Hawkins, public affairs manager for AAA Blue Grass. “This is welcome news at a time of year when we typically see gas prices start to edge upward.”
Kentucky’s average gas price for a gallon of regular gasoline rose slightly this week, but is still lower than one week ago and 11 cents less than a month ago. One year ago at this time, the average in Kentucky was at $3.09. Lexington’s average gas price held steady overnight, a penny lower than the statewide average, now at $2.67. Lexington’s current gas price average is six cents lower than a week ago, 14 cents lower than a month ago and 39 cents lower than a year ago.
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.87 million barrels per day last week to 9.18. Total domestic gasoline supply decreased from 246.8 million barrels to 241.1, leaving them slightly below seasonal averages. Gasoline production also decreased last week, averaging 9.6 million barrels per day.
Today’s national average for a gallon of gas is $3.07, about 8 cents lower compared to a month ago and 31 cents less than a year ago.
At the close of Wednesday’s formal trading session, WTI increased $1.43 to settle at $67.68 a barrel. The EIA reports that crude oil inventories decreased by 1.4 million barrels from the previous week. At 435.2 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.
The nation’s top 10 least expensive gasoline markets are Mississippi ($2.64), Texas ($2.66), Kentucky ($2.68), Oklahoma ($2.71), Louisiana ($2.72), Tennessee ($2.73), Arkansas ($2.78), Alabama ($2.75), South Carolina ($2.76) and North Carolina ($2.78).
The nation’s top 10 most expensive gasoline markets are California ($4.66), Hawaii ($4.54), Washington ($4.08), Nevada ($3.74), Oregon ($3.71), Alaska ($3.40), Arizona ($3.35), Illinois ($3.25), Pennsylvania ($3.23), and Idaho ($3.19).
The nation’s top 10 most expensive states for public charging per kilowatt hour are Hawaii (56 cents), West Virginia (47 cents), Montana (45 cents), Idaho (43 cents), South Carolina (42 cents), Tennessee (42 cents), Arkansas (42 cents), New Hampshire (42 cents), Kentucky (41 cents), and Alaska (41 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (22 cents), Missouri (25 cents), Nebraska (26 cents), Delaware (29 cents), Iowa (29 cents), Michigan (29 cents), North Dakota (30 cents), Utah (30 cents), and Texas (30 cents).
Gas-saving tips for spring travel
• Get your vehicle checked out. Perform regular car maintenance at the intervals recommended by the vehicle manufacturer in the owner’s manual or as indicated by the in-car maintenance reminder system. If you have an aging battery, be sure to have it tested before heading out on your trip. Find a AAA Approved Auto Repair Facility here.
• Keep tires properly inflated. Under-inflated tires can decrease your gas mileage by approximately 3%. Not to mention, properly inflated tires are safer and last longer. Check pressure in all four tires every two weeks with an accurate, hand-held air pressure gauge.
• Know your octane. Do not purchase mid-grade or premium gasoline unless your owner’s manual specifically recommends it. According to AAA research, Americans waste more than $2.1 billion annually on premium gas in vehicles designed to run on regular fuel. AAA found no benefit to using premium gas instead of regular-grade fuel. At the time of the study, 70% of U.S. drivers owned a vehicle that required only regular gasoline.
• Avoid idling. Idling gets zero miles per gallon. Letting your vehicle idle for more than 10 seconds uses more gas than shutting it off and restarting. Don’t start your car until you are ready to go. The engine actually warms up more quickly once the car is operating, and will stay warm after stopping. Avoid drive-up windows. Park and go inside instead.
• Observe the speed limit. Gas mileage decreases rapidly at speeds above 60 mph. Each 5 mph you drive over 60 mph is like paying an additional $0.15 per gallon of gas. Using cruise control on the highway helps you maintain a constant speed and, in most cases, will save gas.
• Drive sensibly. Aggressive driving (speeding, rapid acceleration and braking) wastes gas. It can lower your gas mileage by 33 percent at highway speeds and by 5 percent around town.
• Plan your trip. Carefully planning out your road trip can save you time and money. AAA offers a multitude of AAA road trip planning resources. With a little planning, you can avoid retracing your route and reduce the distance you travel as well. You’ll not only save fuel, but also reduce wear and tear on your car.
• Minimize drag. Drag reduces fuel efficiency. Driving with the windows open, using roof- or rear-mounted racks and carrying heavy loads increase vehicle drag. A roof rack or carrier provides additional cargo space and may allow you to meet your needs in a smaller, more fuel-efficient car. However, a loaded roof rack can decrease your fuel economy by 5 percent. Reduce aerodynamic drag and improve your fuel economy by using a removable rack and placing items inside the trunk whenever possible. Avoid carrying unnecessary items, especially heavy ones. An extra 100 pounds in the trunk reduces a typical car’s fuel economy by 1-2%.
AAA Blue Grass