AAA: Gas Prices Dip in Kentucky Gas prices in West Central Kentucky are four cents cheaper this week at $3.225, according to AAA East Central’s Gas Price Report.
This week’s average prices: Western Central KY Average $3.225Average price during the week of July 17, 2023 $3.263Average price during the week of July 25 , 2022 $3.884Average prices of unleaded self-serve gasoline in various areas: $3.236 Bowling Green$3.163 Elizabethtown$3.553 Louisville$3.043 Owensboro$3.131 Paducah
Trend Analysis:
Despite continued lower-than-normal demand for gasoline, the national average price for gasoline is three cents higher this week at $3.59. The primary culprit is a higher oil price, which has recently increased to the mid-$70s per barrel.
According to the latest data from the Energy Information Administration (EIA), gas demand increased slightly from 8.76 to 8.86 million b/d for the week ending July 14. Meanwhile, total domestic gasoline stocks fell from 219.5 to 218.4 million barrels.
At the close of last Wednesday’s formal trading session, West Texas Intermediate decreased by 40 cents to settle at $75.35. Oil prices slid last week in response to market concerns that crude demand may soften in the months ahead. Due to extended repair timelines at refineries, lower refinery oil usage rates could influence how much oil prices decline.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.