Prices in western Kentucky are up by 10 cents this week at $2.76 per gallon.
Gas prices are more expensive for almost every state in the Great Lakes and Central region this week. Regional refinery maintenance and expensive crude oil prices are two major factors contributing to the increase.
Gasoline inventories dipped by 661,000 barrels to 51.5 million barrels. Levels sit at one of the lowest for the region this year, but are comparable to this time last year. If inventories continue to decline, prices will likely continue to increase.
This week's western Kentucky average price $2.76
Average price during the week of October 1, 2018 $2.66
Average price one year ago $2.28
Average prices of unleaded self-serve gasoline in various areas:
$2.69 Paducah
$2.85 Bowling Green
$2.61 Elizabethtown
$2.96 Louisville
$2.67 Owensboro
The national gas price average increased three cents on the week to $2.91, with all but seven states paying more. Today's national gas price average is six-cents more than a month ago and 41 cents more than a year ago. The September switchover to winter-blend gasoline ushered in cheaper gas prices compared to the summer, but the drop was short lived.
Crude oil accounts for much of the retail pump price, with prices driven higher by geopolitical tensions. As a result, fall gas prices have not been this expensive since 2014. At that time, motorists were paying on average more than $3/gal and crude oil was selling well above $70/barrel. This year, despite inventory increasing over the week, crude oil is selling at $25 or more per barrel than last year. Today, the price for a barrel of oil is hovering around $74.
With gas prices taking an unseasonable turn, AAA offers the following tips for conserving fuel:
Accelerate gradually. Avoid jackrabbit starts.
Slow down. If you travel at 60 mph instead of 70 mph on a 20-mile highway commute, you would save about 1.3 gallons of gas in a five-day work week.
Anticipate your stops. When approaching a red light, let your foot off the gas as early as possible.
Carpool or use public transit. Also consider combining errands to cut down on amount of time on the road.
Avoid long warm-ups in the morning. They're unnecessary and waste fuel.
Maintain recommended tire pressure. Low pressure reduces fuel economy and can damage tires.
Keep the air filter clean. Clogged filters reduce fuel economy and increase exhaust emissions.
Motorists can find current gas prices nationwide and statewide at GasPrices.AAA.com.
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