Beech Tree News Network

Gas prices in West Central Kentucky are eight cents lower this week at $1.865, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Central KY Average                             $1.865

Average price during the week of October 26, 2020                                        $1.944

Average price during the week of November 4, 2019                                      $2.332

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

$1.936        Bowling Green

$1.686        Elizabethtown

$2.130        Louisville

$1.764        Owensboro

$1.808        Paducah

Trend Analysis:

Crude oil prices decreased last week to the lowest closing price - $35/barrel – since June. By comparison, last year at this time, crude was pricing at about $20/barrel more expensive. Domestic crude prices decreased following market concern about increasing coronavirus infections worldwide, which could lower crude demand.

As crude prices decreased, the national average price for gasoline pushed four cents cheaper to $2.12, and every state except South Dakota (+1 cent) saw gas prices hold steady or decrease. The average at the start of November hasn’t been this cheap since 2004, and if crude oil continues to push cheaper, the national average could drop below $2/gallon before the end of the year.

Across the country, state gas price averages are cheaper on the month and the week. Today, motorists can find gas for $2/gallon or less at 52% of gas stations.

Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.

AAA East Central is a not-for-profit association with 76 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members.  News releases are available at news.eastcentral.aaa.com.  Follow us on Twitter and Facebook.