After observing some of the highest average gas prices for the year, things are trending a little lower in in west central Kentucky this week — two cents lower than last at $3.42 per gallon.
That’s according to the AAA East Central’s Report, which showed prices approaching $3.45 during the week of July 31, and nearly $3.53 this time last year.
In Todd County, it’s $3.49 in Elkton.
In Caldwell County, it’s $3.29 in Fredonia and $3.49 in Princeton.
In Lyon County, it’s $3.39 in Eddyville and between $3.47 and $3.54 in Kuttawa.
In Crittenden County, it’s between $3.39 and $3.46 in Marion.
In Christian County, it’s $3.32 in Hopkinsville and $3.39 in Oak Grove.
In Trigg County, it’s between $3.49 and $3.59 in Cadiz.
As for some important cities, it’s $3.43 in Bowling Green, $3.30 in Elizabethtown, $3.70 in Louisville, $3.28 in Owensboro and $3.40 in Paducah.
These prices are in despite of national averages trending higher, rising seven cents in the last seven days to $3.82. This is primarily due to the price of oil on the barrel, which has been staying close to $80 in the last month.
Extreme heat in the US has also played a factor in high prices, as some refineries pulled back on production. As temperatures return to normal, so, too, can production schedules
Today’s national average is 29 cents more than a month ago, but still 24 cents less than a year ago.
At the close of Wednesday’s formal trading session, West Texas Intermediate decreased by $1.88 to settle at $79.49. Oil prices temporarily dropped after the U.S. credit rating declined, increasing market fears that oil demand could decline if the economy eases.
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