LOUISVILLE (09/03/24) — Gas prices in West Central Kentucky are six cents lower this week at $2.914, according to AAA East Central’s Gas Price Report.
Comparison:
Average price during the week of August 26, 2024 $2.979
Average price during the week of September 5, 2023 $3.427
Average prices of unleaded self-serve gasoline in various areas:
$2.829- Bowling Green
$2.870- Elizabethtown
$3.238- Louisville
$2.757- Owensboro
$2.876- Paducah
Trend Analysis:
Pump prices continued to fall over the past week and are three cents lower this week at $3.32. With Labor Day signaling the unofficial end of the summer travel season, there was a slight uptick in gas demand but lower crude prices are helping to offset gas price increases. Today’s national average is 15 cents lower than a month ago and 49 cents less than a year ago.
According to new data from the Energy Information Administration (EIA), gas demand rose last week from 9.19 million barrels per day to 9.30. Meanwhile, total domestic gasoline stocks fell from 220.2 to 218.4 million barrels, and gasoline production decreased last week, averaging 9.6 million daily.
At the close of Wednesday’s formal trading session, West Texas Intermediate fell by $1.01 to settle at $74.52 a barrel. The EIA reports that crude oil inventories decreased by 0.8 million barrels from the previous week. At 425.2 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.
