Beech Tree News Network

Gas prices in West Central Kentucky are a penny higher this week at $3.264, according to AAA East Central’s Gas Price Report.

This week’s average prices:

Western Central KY Average-----$3.264

Average price during the week of July 8, 2024-----$3.251

Average price during the week of July 17, 2023-----$3.263

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

$3.202-----Bowling Green

$3.294-----Elizabethtown

$3.587-----Louisville

$3.013-----Owensboro

$3.224-----Paducah

Trend Analysis:

The national average for a gallon of gas rose two cents over the past week to $3.52. The slight increase came as Hurricane Beryl hit the coast of Texas, a record number of Americans traveled by car over the July 4th holiday, and oil costs continue to hover above $80 per barrel. Today’s national average is seven cents more than a month ago but four cents less than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand dipped from 9.42 million barrels per day to 9.39 last week. Meanwhile, total domestic gasoline stocks fell from 231.7 to 229.7 million barrels, while gasoline production increased last week, averaging 10.3 million barrels daily.

At the close of Wednesday’s formal trading session, West Texas Intermediate rose 69 cents to settle at $82.10 a barrel. The EIA reports that crude oil inventories decreased by 3.4 million barrels from the previous week. At 445.1 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.