West Central KY Gas Prices on the Rise

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West Central KY Gas Prices on the Rise

(May 23, 2016) -- West Central Kentucky gas prices have risen 9 cents to $2.281 a gallon, according to AAA East Central’s Fuel Gauge report. The national average is $2.282.

West Central Kentucky average price last week:

$ 2.192

Average price during the week of May 25, 2015:

$ 2.566

The following is a list of the average price of unleaded self-serve gasoline in various areas: 

$2.285

Bowling Green

$2.268

Elizabethtown

$2.484

Louisville

$2.279

Owensboro

$2.091

Paducah

On the National Front

Gas prices are at their highest point for the year as we approach the Memorial Day holiday, and the national average has increased for 12 days in a row. Despite this increase, drivers remain on target to pay the lowest prices for the Memorial Day holiday since 2005. AAA projects more than 38 million Americans will travel this Memorial Day weekend, which is an increase of 700,000 compared to a year ago. That is the second-highest Memorial Day travel volume on record and the most since 2005. Nearly 34 million (89 percent) holiday travelers will drive to their Memorial Day destinations, an increase of 2.1 percent over last year.

Oil Market Dynamics

Global crude oil prices recently moved higher due to unexpected declines in oil production in various parts of the world, such as Canada and Nigeria. This rally was short lived and the market once again reflected a bearish sentiment following reports of a strengthening U.S. dollar and questionable global demand. The United States’ role as swing producer is also garnering attention, with domestic production falling to its lowest levels since September 2014. At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate closed out the week down 41 cents to settle at $47.75 per barrel.

-AAA-

AAA East Central is a not-for-profit association with 83 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members.

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