Gas prices in the greater Lexington area have risen 14.3 cents per gallon in the past week, according to GasBuddy price reports. Prices are averaging $2.71 per gallon and are 28.2 cents per gallon higher than a month ago, but are 11.8 cents per gallon lower than a year ago.
The cheapest station in the Lexington area is priced at $2.39 per gallon while the most expensive is $2.89, a difference of 50.0 cents per gallon. The lowest price in the state Monday is $2.29 per gallon while the highest is $2.99, a difference of 70.0 cents per gallon. The cheapest price in the entire country today stands at $2.01 per gallon while the most expensive is $5.49, a difference of $3.48/g.
The national average price of gasoline has risen 3.3 cents per gallon in the last week, averaging $2.79. The national average is up 11.4 cents per gallon from a month ago, yet stands 8.5 cents per gallon lower than a year ago.
Statewide the average is $2.64, up 8.3 cents per gallon from last week. In the Cincinnati area, prices are averaging $2.86 while Louisville area is at $2.83
"For the third straight week, the national average price of gasoline has risen, following oil prices higher due to global geopolitical tensions, declining oil inventories and Hurricane Barry shut in oil production in Gulf waters," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "With Barry in the rearview, we are unlikely to see major disruptions arise, and gas prices nationally will avoid seeing much of a price rise as a result. However, prices may continue to drift higher as oil prices last week re-took the critical $60 per barrel barrier, and with U.S. oil inventories already in steep decline in recent weeks, we may see additional tightening. While the trend for most states will be rising prices again this week, there may be a brief respite in the weeks ahead as worries over global growth persist, leading the U.S. Federal Reserve to re-think cutting interest rates."