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Gas Prices Stall in Kentucky


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Gas Prices Stall in Kentucky

Kentuckians are experiencing a slight reprieve from rising gas prices as they remain at $3.73 per gallon this week.

Today's national average price for a gallon of regular unleaded gasoline is $3.782, 3.4 cents more expensive than one week ago, 43.5 cents more than one month ago and 9.4 cents more than the average price one year ago.

The recent surge in retail prices has been driven only somewhat by rising crude oil prices and instead has been the product of refinery maintenance and issues. This has subsequently meant less gasoline being produced and fewer supplies, which has squeezed prices higher.

This year's refinery maintenance schedule and switch-over to summer-blend gasoline production appears to be more dramatic than recent years and is taking place earlier than in 2012.

Global demand continues to keep upward pressure on gas prices despite unremarkable domestic demand due to a still recovering economy, high unemployment and more fuel-efficient vehicles on the road. In particular, China (the second largest oil-consumer after the U.S.) saw crude oil demand hit a record high of 10.62 million barrels in January, which was up ten percent from the same month in 2012.

Today, drivers in three states and D.C. are paying more than $4.00 per gallon €“ Hawaii ($4.36), Calif. ($4.23), D.C. ($4.01) and N.Y. ($4.01).

Crude oil prices, which had drifted higher but traded in a narrow range to begin 2013, moved lower last week as increased crude oil inventories and bearish economic news weighed on markets.. At the close of formal trading on the NYMEX Monday, WTI prices settled $93.11 down 2 cents per barrel.

This week's average prices: Kentucky Average: $ 3.730

Average price during the week of February 12, 2013: $ 3.731

Average price during the week of February 21, 2012: N/A Today's National Average Price: $ 3.782

The following is a list of the average price of unleaded self-serve gasoline in various areas: $3.766 Bowling Green,$3.681 Elizabethtown, $3.813 Louisville, $3.669 Owensboro, $3.723 Paducah

AAA East Central is a not-for-profit association with 82 local offices in Pennsylvania, West Virginia, Ohio, New York and Kentucky servicing 2.7 million members.