Gas prices in the greater Lexington area have risen 14.6 cents per gallon in the past week, according to GasBuddy price reports. Prices are averaging $2.38 per gallon and are 0.5 cents per gallon higher than a month ago, but are 37.8 cents per gallon lower than a year ago.
The cheapest station in the Lexington area is priced at $2.08 per gallon while the most expensive is $2.50, a difference of 42.0 cents per gallon. The lowest price in the state Monday is $1.99 per gallon while the highest is $2.89, a difference of 90 cents per gallon. The cheapest price in the entire country stands at $1.84 per gallon while the most expensive is $5.09, a difference of $3.25/g.
The national average price of gasoline has fallen 1.0 cents per gallon in the last week, averaging $2.55. The national average is down 9.9 cents per gallon from a month ago, yet stands 28.7 cents per gallon lower than a year ago.
Statewide the average is $2.29, down 0.8 cents per gallon from last week. In the Cincinnati area, prices are averaging $2.36 while Louisville area is at $2.35.
"For its eighth straight week, the national average has declined even as oil prices have bucked the trend in the last week, moving higher on optimism over upcoming trade talks between China and the United States," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "While most of the country saw gas prices continuing to drop, it certainly was not all. The West Coast has gas prices rise gently in recent weeks, but those increases likely won't last. Moving forward, I believe the market will closely watch the October trade talks and any comments made between the countries until then, and gas prices will track with optimism — should there be a positive conciliatory tone between the two, we may see a more organized, but temporary, upward move. If trade talks fall apart, then expect more price declines that will accelerate in the weeks ahead. Markets have been reliably unreliable in recent weeks and it seems that will likely continue as the talks hold significant meaning for oil and gasoline demand."