AAA: Gas Prices Increase in Western Kentucky; National Average Highest of the Year

Gas prices in West Central Kentucky are five cents higher this week at $2.936, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Central KY Average                       $2.936
Average price during the week of August 2, 2021                                      $2.885
Average price during the week of August 10, 2020                                    $1.927
Average prices of unleaded self-serve gasoline in various areas: 

$2.972        Bowling Green
$2.931        Elizabethtown
$3.160        Louisville
$2.825        Owensboro
$2.790        Paducah

Trend Analysis:

Crude oil prices dropped below $70 per barrel at the end of last week in reaction to concerns about the delta variant, growing COVID case numbers and the possibility of potential lockdowns. While crude is a little cheaper, gas prices are still positioned to remain high in August.

Today’s national average is $3.19, the most expensive gas price average of the year. Gas is $1.02 more than a year ago, a nickel more than a month ago and two cents more than a week ago. Pump prices fluctuated across the country last week with states seeing as much as a nine-cent jump to a seven-cent decrease. The variation in prices is partly attributed to the U.S. seeing an increase in demand and decrease in stocks, according to the Energy Information Administration (EIA). The latest demand rate was 2% higher than the same time period in 2019, while gasoline stocks are about 1% below.

August can be a busy month at the pump with school starting and others taking last minute summer trips. AAA offers these daily driving tips to help save on gas:

  • Slow down and drive the speed limit. On the highway, aerodynamic drag causes fuel economy to drop off significantly as speeds increase above 50 mph.
  • Avoid extended idling to warm up the engine. It is unnecessary and wastes fuel.
  • When approaching a red light or stop sign, take your foot off the gas early and allow your car to coast down to a slower speed until it is time to brake.
  • Accelerate smoothly with light to moderate throttle. This allows the automatic transmission to upshift into higher gears sooner, reducing engine rpm and saving fuel.

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