May 11, 2020

Gas prices up 12 cents across the region

Gas prices up 12 cents across the region

Gas station pump

LEXINGTON, Ky. (WTVQ) – Lexington gas prices have risen 11.9 cents per gallon in the past week, averaging $1.59/g Monday, according to GasBuddy’s daily survey of 275 stations.

Gas prices in Lexington are 10.1 cents per gallon higher than a month ago but stand 96.1 cents per gallon lower than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $1.35/g while the most expensive is $1.79/g, a difference of 44.0 cents per gallon. The lowest price in the state monday is $1.25/g while the highest is $1.99/g, a difference of 74.0 cents per gallon.

The national average price of gasoline has risen 6.4 cents per gallon in
the last week, averaging $1.83/g Monday. The national average is down 1.1
cents per gallon from a month ago and stands 102.8 cents per gallon
lower than a year ago.

Historical gasoline prices in Lexington and the national average going
back ten years:
May 11, 2019: $2.55/g (U.S. Average: $2.86/g)
May 11, 2018: $2.85/g (U.S. Average: $2.86/g)
May 11, 2017: $2.24/g (U.S. Average: $2.34/g)
May 11, 2016: $2.19/g (U.S. Average: $2.20/g)
May 11, 2015: $2.45/g (U.S. Average: $2.66/g)
May 11, 2014: $3.69/g (U.S. Average: $3.66/g)
May 11, 2013: $3.55/g (U.S. Average: $3.57/g)
May 11, 2012: $3.54/g (U.S. Average: $3.73/g)
May 11, 2011: $3.95/g (U.S. Average: $3.97/g)
May 11, 2010: $2.86/g (U.S. Average: $2.88/g)

Neighboring areas and their current gas prices:
Kentucky- $1.60/g, up 14.6 cents per gallon from last week’s $1.46/g.
Cincinnati- $1.87/g, up 29.4 cents per gallon from last week’s $1.58/g.
Louisville- $1.82/g, up 20.3 cents per gallon from last week’s $1.61/g.

“Gasoline demand continues rebound across the U.S. as more states
re-open, with a week on week rise of nearly 5 percent, according to data from GasBuddy’s free payments card. The boost in demand has led oil and gasoline prices to rally, and as long as states continue to loosen restrictions, it’ll mean more motorists on the roads and filling their
tank,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

“Most states saw prices rise last week, but yet again Great Lakes
states, which were the largest beneficiaries of ultra-low prices, saw
the most pain as retail gasoline prices fall back into their normal
territory against the national average. For now, the continued recovery
in gas prices will nearly completely depend on improvement in the
coronavirus situation, as so long as refineries boost production again
as demand continues to rise again,” DeHaan added.

GasBuddy is the authoritative voice for gas prices and the only source
for station-level data spanning nearly two decades. GasBuddy’s survey updates 288 times every day from the most diverse list of sources covering nearly 150,000 stations nationwide, the most comprehensive and up-to-date in the country.

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