Kentucky Gas Prices Move Up, Regional Supply Increases

Kentucky, Gas Prices
Oil Pump by Roy Luck
Photo by Roy Luck https://www.flickr.com/photos/royluck/ creativecommons.org/licenses/by/4.0/

Gas prices in West Central Kentucky rose by three cents this week to $2.164 per gallon, according to AAA East Central’s Gas Price Report. 

Gas prices are more expensive on the week in all Great Lakes and Central States, except for Kansas where prices remained flat.  Four states land on the weekly biggest increase list, including Kentucky (+4 cents).

Gasoline stocks in the region increased to nearly 55 million barrels.  While levels are above the year-ago figure by a more than 1 million barrels, they are down considerably from the 2017 high of 60 million barrels reported in February, according to the EIA.

This week’s average prices: Western Central KY Average: $2.164
Average price during the week of July 17, 2017: $2.131
Average price during the week of July 25, 2016: $1.933

Average prices of unleaded self-serve gasoline in various areas: 

$1.996        Bowling Green
$2.259        Elizabethtown
$2.448        Louisville
$2.072        Owensboro
$2.046        Paducah

On the National Front
The bulk of the country is seeing more expensive gas prices on the week; 39 states saw prices increase on average by three cents – a major swing from last week when only nine states posted more expensive gas prices on the week.  At $2.28, the national gas price is three cents more than a week ago, which is the largest seven-day increase since before Memorial Day.

According to the Energy Information Administration (EIA), gasoline stocks took their largest dip for the first time in five weeks, bringing levels down to 231 million barrels.  That is a 10 million barrel deficit year-on-year and a factor in prices at the pump increasing.

On the U.S. inventory and oil rig count fronts, weekly decreases only show incremental downward movement, while the overall numbers still remain very high when compared to historical data.  Unless these numbers take a more pronounced nosedive, they will still depress crude prices.  In the meantime, as the numbers get closer to this season’s steady, strong demand for refined products, such as gasoline, drivers are likely to see prices continue to move up.

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 and Facebook.

 

For More Information, Contact:
Jim Garrity, Public & Community Relations Manager
Desk: 412-365-7274 / Cell: 412-905-9021 / Email: Garrity.James@aaaec.com

-AAA-