Gas prices in West Central Kentucky are five cents lower this week at $3.406, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Central KY Average $3.406
Average price during the week of October 10, 2022 $3.453
Average price during the week of October 18, 2021 $3.003
Average prices of unleaded self-serve gasoline in various areas:
$3.297 Bowling Green
$3.249 Elizabethtown
$3.772 Louisville
$3.361 Owensboro
$3.350 Paducah
Trend Analysis:
The national average pump price for a gallon of gas decreased three cents over the past week to hit $3.88. Lower gasoline demand, amid increasing supply and fluctuating oil prices, has contributed to the national average moving downward. Today’s national average is 20 cents higher than a month ago and 56 cents more than a year ago.
At the close of Friday’s formal trading session, West Texas Intermediate decreased by $3.50 to settle at $85.61. Concerns regarding a possible global economic recession led to a drop in the price of crude which helped to minimize pump price increases last week. Additionally, the Energy Information Administration (EIA) reported total commercial crude inventories increased by 9.9 million barrels to 439.1 million barrels.
Meanwhile, domestic gasoline demand decreased as fewer drivers fueled up in the first half of October. According to EIA, gas demand decreased nationally from 9.47 million barrels per day to 8.28 million barrels per day, and total domestic gasoline stocks increased by 2 million barrels to 209.5 million barrels.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
