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AAA: Kentucky Gas Prices Rise; National Average Stabilizes

Bill Stephens

March 22nd, 2021

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Gas prices in West Central Kentucky are five cents higher this week at $2.751, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Central KY Average                             $2.751
Average price during the week of March 15, 2021                                           $2.707
Average price during the week of March 23, 2020                                           $1.771
 
Average prices of unleaded self-serve gasoline in various areas: 

$2.748        Bowling Green
$2.671        Elizabethtown
$2.897        Louisville
$2.735        Owensboro
$2.705        Paducah

Trend Analysis:
After weeks of seeing almost daily increases, the national gas price average is showing signs of stability, holding steady at $2.88 for the last 5 days. Today’s average is the highest price since May 2019 and is more expensive on the week (+2 cents), month (+25 cents) and year (+74 cents).

A decrease in demand and a simultaneous increase in supply and refinery utilization has contributed to slower movement in gas price increases. In its latest weekly reports, the Energy Information Administration (EIA) shows demand decreased from 8.7 million b/d to 8.4 million b/d, and gasoline supply increased from 231.6 million barrels to 232 million barrels.

Also, crude oil prices have decreased. At the close of Friday’s formal trading session, West Texas Intermediate settled at $61.41. Prices declined on the week largely due to market concern that demand may stumble as some countries restart coronavirus restrictions to curb growing infection rates.

In the week ahead, motorists can expect fluctuation at the pump. However, with crude prices moving lower, large increases at the pump are not likely.

Motorists can find current gas prices nationwide, statewide, and countywide at GasPrices.AAA.com.

AAA East Central is a not-for-profit association with 73 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members.  News releases are available at news.eastcentral.aaa.com.  

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