Kentucky Gas Prices Drop as Holiday Week Approaches
Gas prices in West Central Kentucky are seven cents cheaper this week at $2.294, according to AAA East Central’s Gas Price Report.
Pump price volatility continues across the Great Lakes and Central States this week, with four states landing on the top 10 list of largest pump price changes in the country: Ohio (+9 cents), Michigan (-8 cents), Kentucky (-6 cents) and Indiana (+4 cents). However, most states in the region saw gas prices decrease by one to three cents. While Illinois ($2.65) carries the highest pump price average in the region, most state averages range from $2.35 – $2.55.
Gasoline stocks saw a build of nearly 400,000, driving inventory up to 46.9 million barrels. According to Energy Information Administration (EIA) data, this was the first regional increase since the end of September. Should stocks continue to increase – and at sizable amounts – motorists may see gas prices decline. However, with more than 55 million Americans expected to travel this Thanksgiving, the trend could fluctuate in the weeks ahead.
This week’s average prices: Western Central KY Average $2.294
Average price during the week of November 11, 2019 $2.362
Average price during the week of November 19, 2018 $2.329
Average prices of unleaded self-serve gasoline in various areas:
$2.242 Bowling Green
$2.236 Elizabethtown
$2.509 Louisville
$2.268 Owensboro
$2.213 Paducah
On the National Front
On the week, gas prices are mostly cheaper across the country thanks to an increase in supply amid robust demand. A small number of states saw pump prices decrease more than a dime, though the majority saw fluctuation of a few pennies. Today’s national average of $2.59 is two cents cheaper than last week.
The downward trend may be disrupted by the Thanksgiving holiday. With nearly 49.3 million Americans expected to travel by car for the holiday, gas prices may start to fluctuate by the end of this week.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate increased by 95 cents to settle at $57.72. Crude prices increased last week due to increased optimism that China and the U.S. – the world’s two largest crude consumers – are continuing to resolve ongoing trade tensions that sparked market fears that global crude demand would suffer as a result of increased tariffs between both countries.
Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.
