Beech Tree News Network

Gas prices in West Central Kentucky are eight cents lower this week at $3.189, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Central KY Average---$3.189

Average price during the week of July 15, 2024---$3.264

Average price during the week of July 24, 2023---$3.224

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

$3.056---Bowling Green

$3.195---Elizabethtown

$3.595---Louisville

$2.964---Owensboro

$3.137---Paducah

Trend Analysis:

The national average for a gallon of gas fell two cents to $3.50 since last week. Lower oil costs and lower demand are helping to decrease gas prices. Today’s national average is still five cents more than a month ago but nine cents lower than a year ago.

According to new data from the Energy Information Administration (EIA), gas demand plummeted from 9.39 million barrels per day to 8.78 last week. Meanwhile, total domestic gasoline stocks fell from 231.7 to 229.7 million barrels.  Gasoline production took a slight hit, likely from Hurricane Beryl, dropping from an average of 10.3 million barrels daily to 9.5.

At the close of Wednesday’s formal trading session, West Texas Intermediate rose $2.09 to settle at $82.85 a barrel. The EIA reports that crude oil inventories decreased by 4.9 million barrels from the previous week. At 440.2 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.  

Motorists can find current gas prices nationwide, statewide, and countywide at gasprices.aaa.com.