Beech Tree News Network

West Central Kentucky gas prices decreased by a penny this week to $2.142 per gallon, according to AAA East Central’s Fuel Gauge Report. 

On the National Front

The national average has increased for 14 days in a row following the OPEC oil production agreement on November 30. Today’s average of $2.21 per gallon is up three cents per gallon on the week and two cents per gallon on the month. The national average is up 20 cents compared to the same date last year.

Last month, OPEC agreed to cut output by 1.2 million barrels per day beginning January 2017 and markets have continued to react to the production cut agreement with crude oil prices hitting an 18 month high. Retail prices have steadily increased following the news of the OPEC agreement, but the effectiveness of the deal and continued market impacts will hinge on all countries implementing the agreed to production levels.  As a result, traders will continue to watch how OPEC and non-OPEC members move forward with the terms of the agreement starting in 2017. At the close of Friday’s formal trading session on the NYMEX, West Texas International was up 66 cents to settle at $51.50 per barrel.

This week’s average prices: Western Central KY Average               $2.142

Average price during the week of December 5, 2016                       $2.152

Average price during the week of December 14, 2015                     $1.868

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

$2.166         Bowling Green

$2.207         Elizabethtown

$2.184         Louisville

$2.089         Owensboro

$2.064         Paducah

Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.

AAA East Central is a not-for-profit association with 82 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members.