Kentucky’s average price for a gallon of regular gas edged up about 3 cents this past week, landing at $2.75. Meanwhile, the national gas price average continued to coast along at $3.08, mirroring prices one week ago one month ago and one year ago.
Gas prices have remained stable so far in November, reflecting an abundance of crude oil, the largest component of gasoline and greatest influence on what consumers pay at the pump. Prices are expected to continue to hold steady or even slide downward a few pennies as the Thanksgiving travel period looms, which is welcome news for those planning to hit the highway to celebrate the holiday with family and friends.
“Thanksgiving is always a very busy time for travel with the wide majority of travelers opting for a road trip,” says Lori Weaver Hawkins, public affairs manager, AAA Blue Grass. “With gas prices expected to hold mostly steady, consumers can be thankful they don’t have to deal with escalating pump prices as we enter the holiday season.”
Today’s gas price average for Kentucky at $2.75 is up three cents from a week ago as well as a month ago, but down about five cents compared to this time last year. Lexington’s average price for a gallon of regular is now at $2.81, up two cents from last week and nine cents higher than a month ago. Lexington’s gas price average is about 12 cents lower than this time in 2024. The highest gas price average by Kentucky county can be found in Menifee County at $3.28, one of only two counties still above the $3 mark, with the other being Kenton at $3.02. Simpson County again has the lowest average this week, now at $2.46. According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.87 million b/d last week to 9.02 million. Total domestic gasoline supply decreased from 206 million barrels to 205.1 million. Gasoline production in-creased last week, averaging 9.9 million barrels per day…