Gas prices fall for 13th consecutive week

Published 12:00 pm Wednesday, September 14, 2022

Gas prices nationwide, including here in Kentucky, are now in their 13th straight week of decline, although it may be leveling off, according to GasBuddy.com, a crowd-sourced website and app that tracks gas prices.

The nation’s average gas price has fallen 6.5 cents from a week ago to $3.68 per gallon at mid-day on Tuesday.  That is down 25.3 cents from a month ago but 52.3 cents higher than a year ago. The national average price of diesel has declined 5.5 cents in the last week and stands at $5.01 per gallon.

In Kentucky, the average price per gallon for regular was $3.34, nearly eight cents less than at this time last week, and a drop of 23 cents from one month ago. However, it is 34 cents higher than the $2.88 reported a year ago. No data on historic diesel prices in Kentucky was available.

Patrick De Haan, head of petroleum analysis at GasBuddy, says he isn’t sure how long the trend will continue, as there are drastically different price behaviors from coast to coast.

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“Refinery issues in California are leading to increases in areas supplied by the state’s refineries, including areas of Arizona, Nevada, Oregon, Washington and of course, California. Gasoline supply remains tight for the East Coast with some modest moves up, while prices continue to edge lower in the Plains, South and areas of the Great Lakes. For now, I believe the drop in prices will overpower the increases, leading to potentially another decline this week, but we’re in a very fragile time and certainly could see a broader move higher in the weeks ahead.”

GasBuddy considers Kentucky as part of the Great Lakes region.

Other nationwide trends, according to GasBuddy:

–The most common U.S. gas price encountered by motorists stood at $3.39 per gallon, 10 cents lower than last week, followed by $3.49, $3.29, $3.59 and $3.69 rounding out the top five most common prices.

–The median U.S. gas price is $3.49 per gallon, down 10 cents from last week and about 16 cents lower than the national average.

–The top 10% of stations in the country average $5.18 per gallon, while the bottom 10% average $2.97 per gallon.

–The states with the lowest average prices: Texas ($3.10), Arkansas ($3.12) and Mississippi ($3.13).

–The states with the highest average prices: California ($5.31), Hawaii ($5.23) and Nevada ($4.84).

Check and report gas prices in your area by going to kentuckygasprices.com.