Gas prices in West Central Kentucky are 19 cents lower this week at $3.690, according to AAA East Central’s Gas Price Report. Today’s regional average is 71 cents lower than a month ago.
This week’s average prices: Western Central KY Average $3.690
Average price during the week of July 25, 2022 $3.884
Average price during the week of August 1, 2021 $2.885
Average prices of unleaded self-serve gasoline in various areas:
$3.690 Bowling Green
$3.557 Elizabethtown
$4.123 Louisville
$3.491 Owensboro
$3.589 Paducah
Trend Analysis:
The national average for a gallon of gas has fallen 14 cents over the past week to $4.21. Today’s average is 63 cents less than a month ago and $1.04 more than a year ago. Additionally, gasoline is now below $4 a gallon at nearly half of the gas stations around the country.
According to new data from the Energy Information Administration (EIA), gas demand increased from 8.52 million barrels per day to 9.25 million barrels per day last week. The estimated rate is 80,000 barrels per day lower than last year, but it could slow pump price decreases if the trend holds. Additionally, total domestic gasoline stocks decreased by 3.3 million barrels to 225.1 million barrels, signaling that higher demand reduced inventory last week.
New survey data from AAA finds that drivers are making significant changes to cope with high pump prices. Almost two-thirds (64%) of U.S. adults changed their driving habits or lifestyle since March, with 23% making “major changes.” Drivers’ top three changes to offset high gas prices are driving less, combining errands, and reducing shopping or dining out.
At the close of Friday’s formal trading session, West Texas Intermediate increased by $2.20 to settle at $98.62. Crude prices increased last week as market concerns eased about weakening demand this summer and the EIA reported that total domestic crude stocks decreased by 4.5 million barrels to 422.1 million barrels last week.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
AAA East Central is a not-for-profit association with 71 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. News releases are available at news.eastcentral.aaa.com. Follow us on Twitter and Facebook.
