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AAA: Kentucky Gas Prices Dip; National Average at Cheapest Start to October in Four Years

AAA: Kentucky Gas Prices Dip; National Average at Cheapest Start to October in Four Years

Bill Stephens

October 5th, 2020

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Gas prices in West Central Kentucky are a penny cheaper this week at $1.968, according to AAA East Central’s Gas Price Report.

This week’s average prices: Western Central KY Average                             $1.968
Average price during the week of September 28, 2020                                   $1.977
Average price during the week of October 7, 2019                                          $2.360
 
Average prices of unleaded self-serve gasoline in various areas: 

$1.986        Bowling Green
$1.852        Elizabethtown
$2.144        Louisville
$1.893        Owensboro
$1.963        Paducah

Trend Analysis:
At $2.18, the national gas price average is at the cheapest start to the month of October since 2016. That average is the same as a week ago, four cents cheaper than the start of this past September, and nearly 50 cents cheaper than last year. The national average held on the week as demand was mostly stable at 8.5 million b/d, despite gasoline stocks increasing by 700,000 barrels.

On the week, 41 state gas price averages fluctuated by no more than two cents. Of those, 38 states only saw a penny increase or decrease. A handful of states saw more substantial gas price increases including Florida (+9 cents), Delaware (+6 cents), New Jersey (+6 cents), Washington, D.C. (+5 cents), West Virginia (+4 cents) and Maryland (+3 cents).

At the close of Friday’s formal trading session, West Texas Intermediate decreased by $1.67 to settle at $37.05. Crude prices dropped due to market concern about increasing coronavirus infections worldwide, which could lower crude demand. For this week, crude prices could decline further if demand concerns continue to worry the market. 

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

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