West Central Kentucky gas prices continued their downward trend again this week. Today’s average price for a gallon of regular gasoline is six cents lower than last week at $2.85 per gallon, according to AAA East Central’s Gas Price Report.
Gasoline inventories in the Great Lakes and Central States took a small drop, about 500,000 barrels, on the week. The South and Southeast was the only other region to see levels drop, according to the U.S. Energy Information Administration (EIA).
This week’s average prices: Western Central KY Average $2.285
Average price during the week of September 25, 2017 $2.346
Average price during the week of October 3, 2016 $2.259
Average prices of unleaded self-serve gasoline in various areas:
$2.363 Bowling Green
On the National Front
At $2.55, the national gas price average is just two cents cheaper on the week and the most expensive pump price seen at start of October since 2015, when motorists where paying $2.29 for a gallon of unleaded. This can be attributed to the back-to-back hurricanes that affected the Gulf Coast refineries’ production and national inventory levels. As those refineries play catch-up, AAA projects gas prices will continue to remain higher than normal before dropping in the coming weeks.
Today, Gulf Coast refineries are building toward resuming normal operations, but it could take some longer than others to return to pre-hurricane production rates. The EIA reports that Gulf Coast utilization rates are up nearly 12 percent to 85 percent of capacity since last week. As utilization rates increase and operations improve, gas prices will drop.
Across the country, the majority of states saw prices at the pump drop as much as eight cents on the week – with Mid-Atlantic and Northeast states benefiting the most. While five Great Lakes and Central States are paying up to 11 cents more for gas. Today, motorists can find gas for $2.50 or less at 56 percent of gas stations in the country.