Advertisement

$2.75 a Gallon, and Still Falling at the Pump

$2.75 a Gallon, and Still Falling at the Pump
Advertisement
By West Kentucky Star Staff
Oct. 20, 2014 | PADUCAH, KY
By West Kentucky Star Staff Oct. 20, 2014 | 09:04 AM | PADUCAH, KY
Virtually no station in western Kentucky is charging over three dollars a gallon for regular unleaded gasoline, and forecasts call for prices to continue their fall.

Mayfield gas stations have dropped prices to $2.75 per gallon as of Monday morning.  In Murray, 2.78 is a common price. In Paducah, gas can be found for as low as $2.79 a gallon.

It's a bit of a role reversal for people accustomed to driving to Missouri for cheaper gas; prices Monday in Cape Girardeau start at $2.85. In Illinois, prices still hover above three dollars, including 3.05 in Marion.

Average retail gasoline prices in Kentucky have fallen 12.8 cents per gallon in the past week, averaging $2.99 a gallon Monday, according to GasBuddy's daily survey of 2,623 gas outlets in Kentucky. This compares with the national average that has fallen 9.1 cents per gallon in the last week to $3.09 a gallon, according to gasoline price website GasBuddy.com.

Including the change in gas prices in Kentucky during the past week, prices yesterday were 37.9 cents per gallon lower than the same day one year ago and are 35.9 cents per gallon lower than a month ago. The national average has decreased 22.9 cents per gallon during the last month and stands 23.1 cents per gallon lower than this day one year ago.

"The national average again saw a hefty decline over the last week, and we now stand a mere dime away from seeing prices nationally average under $3 a gallon," said www.GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "The national average stands now at its lowest point since January 18, 2011, and by the end of this week, it could stand at its lowest since late 2010.

"Every day, Americans are spending over $100 million less on their gasoline purchases than they did a year ago, some of which will be injected back into the economy in other forms, and with the economic concerns taking shape lately, it could help jolt things back in the right direction.

"I still do believe that the national average will break the $3/gallon mark by around Election Day- the timing is ironic, considering the drop has nothing to do with elections and everything to do with current ongoings, such as a price war between some OPEC members and jitters about the health of the global economy," DeHaan noted.

On the Net:

Get the Latest Gas Prices by Clicking HERE
ADVERTISEMENT
Advertisement


Latest McCracken County
ADVERTISEMENT
ADVERTISEMENT

Latest McCracken County

Advertisement
ADVERTISEMENT