Gas prices in West Central Kentucky are four cents lower this week at $3.158, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Central KY Average $3.158
Average price during the week of September 19, 2022 $3.199
Average price during the week of September 27, 2021 $2.863
Average prices of unleaded self-serve gasoline in various areas:
$3.223 Bowling Green
$3.065 Elizabethtown
$3.364 Louisville
$3.062 Owensboro
$3.077 Paducah
Trend Analysis:
Gas prices rose a nickel over the past week, as the national average pump price hit $3.72. The main reason is higher regional prices on the West Coast and the Midwest due to refinery issues ranging from planned maintenance to a fire. Hurricane Ian could also cause problems, depending on the storm’s track, by disrupting oil production in the Gulf of Mexico and impacting large coastal refineries. But low domestic demand and much lower oil prices have helped to blunt some of the impact. On Friday, the price of oil slipped below $80 a barrel for the first time since January, primarily due to fears of a recession-led global economic slowdown.
Meanwhile, according to data from the Energy Information Administration (EIA), gas demand decreased from 8.49 million barrels per day to 8.32 million barrels per day last week. Moreover, according to the EIA, total domestic gasoline stocks increased by 1.6 million barrels to 214.6 million barrels. Although gasoline demand has decreased, tight supply and fluctuating oil prices have increased the national average price.
Today’s national average of $3.72 is 14 cents less than a month ago but 54 cents more than a year ago.
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.
