Kentucky gas prices down going into Labor Day, but up year-to-year; Americans still spending less

Kentucky Right now

Heading into Labor Day weekend, fuel costs continued to fall over the previous week nationwide, however the fee is slowing, in accordance with GasBuddy.com, a crowd-sourced fuel and diesel value app and web site.

Kentucky’s common value per gallon has dropped to $3.47, down two cents from final week and 39 cents from a month in the past however remains to be 63 cents per gallon greater than a 12 months in the past right now.

Nationwide, the typical is now $3.82, which is 5 cents decrease than final week and a lower of 37 cents final month. Nevertheless, that’s 69 cents greater than final 12 months.

The nationwide common value of diesel, in the meantime, has risen 7.3 cents within the final week and now stands at $5.04 per gallon.

The GasBuddy information was compiled from greater than 11 million particular person value reviews protecting over 150,000 stations nationwide and are as of mid-day on Tuesday.

“The nationwide common has declined for an additional week, extending the slide for the eleventh straight week,” mentioned Patrick DeHaan, head of petroleum evaluation at GasBuddy. “Fuel costs at the moment are $1.20 per gallon decrease than mid-June with People spending $450 million much less on gasoline on daily basis consequently.”

He notes the information isn’t all good for our space relating to predicting costs down the highway, particularly with the hearth on the Whiting, Indiana, refinery final week.

“Some points have developed that we’re retaining an in depth eye on, together with the shutdown of the most important refinery within the Midwest. Whereas that refinery might get again on-line sooner relatively than later, it’s not unimaginable that down the highway the scenario might affect costs within the area. For the remainder of the nation, nonetheless, we’ll proceed to see costs average.

“That is in fact topic to hurricane season, and it does seem that the tropics are beginning to see some exercise, so there’s no assure the decline will proceed.”

The Vitality Data Administration says crude oil inventories fell 3.3 million barrels final week, 6% under the five-year common for this time of 12 months. The Strategic Petroleum Reserve decreased 8.1 million barrels, 27% under its 12 months in the past degree. Gasoline manufacturing dropped to 9.4 million barrels per day, whereas distillate gasoline manufacturing rose to five.2 million barrels per day. Whole U.S. petroleum inventories at the moment are down 43.3 million barrels from a 12 months in the past, 3.4% decrease.

Go to http://www.kentuckygasprices.com/ for value info, and to enter ones you see.