Gas prices in West Central Kentucky rose by three cents this week to $2.164 per gallon, according to AAA East Central’s Gas Price Report.
Gas prices are more expensive on the week in all Great Lakes and Central States, except for Kansas where prices remained flat. Four states land on the weekly biggest increase list, including Kentucky (+4 cents).
Gasoline stocks in the region increased to nearly 55 million barrels. While levels are above the year-ago figure by a more than 1 million barrels, they are down considerably from the 2017 high of 60 million barrels reported in February, according to the EIA.
This week’s average prices: Western Central KY Average $2.164
Average price during the week of July 17, 2017 $2.131
Average price during the week of July 25, 2016 $1.933
Average prices of unleaded self-serve gasoline in various areas:
$1.996 Bowling Green
On the National Front
The bulk of the country is seeing more expensive gas prices on the week; 39 states saw prices increase on average by three cents – a major swing from last week when only nine states posted more expensive gas prices on the week. At $2.28, the national gas price is three cents more than a week ago, which is the largest seven-day increase since before Memorial Day.
According to the Energy Information Administration (EIA), gasoline stocks took their largest dip for the first time in five weeks, bringing levels down to 231 million barrels. That is a 10 million barrel deficit year-on-year and a factor in prices at the pump increasing.
On the U.S. inventory and oil rig count fronts, weekly decreases only show incremental downward movement, while the overall numbers still remain very high when compared to historical data. Unless these numbers take a more pronounced nosedive, they will still depress crude prices. In the meantime, as the numbers get closer to this season’s steady, strong demand for refined products, such as gasoline, drivers are likely to see prices continue to move up.