Gas prices continue to drop as demand remains low; Kentucky average falls to $3.38 per gallon

This week the nationwide common for a gallon of normal gasoline has fallen by three cents to $3.76, whereas the Kentucky common additionally fell three cents, now $3.38.

Based on new knowledge from the Power Data Administration, fuel demand rose barely from 8.68 million b/d to eight.93 million b/d final week, and whole home gasoline shares decreased from 209.4 million bbl to 207.9 million bbl. Though gasoline demand is up barely, it stays practically 400,000 bbl decrease than this identical time final 12 months. Fluctuating oil costs and low demand are contributing to the nationwide common transferring downward. If demand stays low, as oil costs slide, drivers ought to see pump costs come down by the weekend.

On the shut of Wednesday’s formal buying and selling session, West Texas Intermediate elevated by $1.17 to settle at $89.08. A decrease greenback has helped to push crude costs up because the week went on. Nonetheless, the worth of oil declined earlier within the week on account of ongoing market considerations concerning the chance of a recession occurring. If financial development stalls or declines, crude demand is prone to comply with swimsuit alongside costs.

The nationwide common pump worth for a gallon of normal gasoline decreased one other 6 cents over the previous week, falling again to $3.76. At present’s nationwide common of $3.76 is identical as a month in the past and simply 37 cents greater than a 12 months in the past.

Kentucky’s common for a gallon of normal is now $3.38, dropping a penny in a single day, 6 cents decrease on the week however nonetheless 3 cents larger in comparison with a month in the past. A 12 months in the past, the typical in Kentucky was $3.11.

Lexington’s common is now at $3.33, regular in a single day and 4 cents lower than per week in the past, however nonetheless 9 cents larger than a month in the past. A 12 months in the past, the Lexington common was $3.08.

In Northern Kentucky, Covington is at $3.66, down a penny in a single day, 8 cents decrease on the week, however nonetheless 5 cents larger on the month. A 12 months in the past, Covington was at $3.08.

In Jap Kentucky, motorists in Morehead are seeing the fuel worth common $3.59, which is secure in a single day, a penny larger on the week, and likewise a penny larger on the month. A 12 months in the past, the typical worth in Morehead was $3.15. These in Hazard are seeing the fuel worth common at $3.55 immediately, secure in a single day, however a penny larger on the week and 1 cent larger on the month. A 12 months in the past, the typical in Hazard for a gallon of normal was $3.16.

Pikeville is at $3.23 immediately, regular in a single day, 8 cents decrease on the week and 24 cents decrease on the month. A 12 months in the past, the typical in Pikeville was $3.10. Ashland is at $3.40 immediately, regular in a single day, regular on the week and seven cents decrease on the month. A 12 months in the past, the worth in Ashland was $3.12.

Across the Commonwealth, the best fuel costs stay primarily within the northern and close to jap tiers of counties. The very best county-level common fuel worth immediately is in Pendleton, 8 cents decrease than final week, now $3.81. The most cost effective spot for fuel within the commonwealth immediately may be present in Simpson County at $3.10, adopted by Inexperienced County at $3.11.

Checking close by, the typical worth for a gallon of normal immediately (and alter in comparison with per week in the past) in Ohio is at $3.65 (-0.06), West Virginia $3.54 (-0.01), Virginia $3.49 (-0.05), Tennessee $3.33 (-0.01), Indiana $3.84 (-0.13), Illinois $4.16 (-0.10) and Missouri $3.37 (-0.06).

Throughout the nation, the excessive spot stays California at $5.61, which is down 22 cents from final week, adopted by Hawaii at $5.20. The bottom state averages may be present in Georgia at $3.17, adopted by Texas at $3.19.

Since final Friday, these 10 states have seen the most important decreases of their averages: Alaska (−29 cents), California (−22 cents), Oregon (−17 cents), Washington (−16 cents), Indiana (−13 cents), Michigan (−13 cents), Wisconsin (−11 cents), New Mexico (−11 cents), Nevada (−10 cents) and Illinois (−10 cents).

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