Gas prices in West Central Kentucky fell by nearly four cents this week to $2.045 per gallon, according to AAA East Central’s Gas Price Report.
All states in the Great Lakes and Central region, except Illinois, saw gasoline prices drop on average by three cents on the week. Three states saw of some of the country’s largest price declines this week, including Kentucky (-4 cents).
Gasoline production in the region rose for a third consecutive week to the highest in a year, according to the EIA. At the same time, stockpiles declined to register at about 54 million barrels, which is 1.5 million higher than levels a year ago.
This week’s average prices: Western Central KY Average $2.045
Average price during the week of June 26, 2017 $2.080
Average price during the week of July 5, 2016
Average prices of unleaded self-serve gasoline in various areas:
$1.913 Bowling Green
$2.002 Elizabethtown
$2.362 Louisville
$1.982 Owensboro
$1.966 Paducah
On the National Front
At $2.23, today’s average national gas price is the cheapest the country has seen all year. On the week, gas prices fell in 46 states. Only Illinois, Oklahoma and Washington, D.C. saw prices increase, albeit by one cent each. South Carolina continues to carry the cheapest gas in the country at $1.90. Today, consumers can find gas for $2.00 or less at one out of every four gas stations in the country.
The last time gas prices were this cheap for the Independence Day holiday was 2005. That year, the price on July 4 was $2.23, which was the first time gas prices ever rose above the $2.00 mark for the holiday. Today’s price is three cents less than a week ago, 15 cents less than a month ago and four cents less than this day a year ago.
After making gains toward the end of the week, West Texas Intermediate continues to float above $46 per barrel on Mondaymorning. The market has been steadily climbing after EIA data showed that domestic oil production lowered for the week ending on June 23. Moreover, last week Baker Hughes, Inc. reported that for the first time in 24 weeks, the U.S. lost two oil rigs. However, the U.S. oil rig count is still up by 415 when compared to the count last year at this time. This significant number of rigs means that the market still has a long way to go before decreased production in the U.S. has a major impact on the price per barrel of crude. In the meantime, drivers will continue to benefit from high crude production rates that have contributed to record refinery output rates this year.
Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.
AAA East Central is a not-for-profit association with 81 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. Past news releases are available at news.eastcentral.aaa.com. Follow us on Twitter andFacebook.