Gas prices continue to fall in Kentucky

Published 11:30 am Tuesday, December 19, 2023

KENTUCKY TODAY

For the 12th consecutive week, the nation’s average price of gasoline has posted a decline according to GasBuddy.com, a website and mobile app that tracks fuel prices across the U.S. and Canada and is now at the lowest level since the height of the COVID-19 pandemic.

The average price per gallon in Kentucky for regular gas stood at $2.75 per gallon, Thursday afternoon. That’s 11 cents less than last week, 22 cents cheaper than a month ago, and 19 cents below last year at the time.

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The nationwide average price was still well above Kentucky at $3.07 Thursday afternoon.  That price is 12 cents below last week, 28 cents less than a month ago, and 11 cents cheaper than on this date last year.     

“With nearly 80,000 gas stations in the U.S. now priced below $3 per gallon, and 23 states also seeing average prices of $2.99 or less, motorists are getting substantial relief at the pump in time for the holidays,” said Patrick De Haan, head of petroleum analysis at GasBuddy.  “The trend is likely to continue in most states this week, while the national average could soon fall below $3.05 per gallon, the lowest since 2021.  The good news may continue into 2024, with GasBuddy’s annual Fuel Outlook being released in just a few weeks.”

You may recall $2.79 was the average price on Christmas Day, 2022.  The last time it was lower than that was during the COVID-19 pandemic in the spring of 2020, when the lack of demand due to little driving resulted in Kentucky gas prices dropping to $1.39.  That was the lowest price over the past 11 years, according to GasBuddy.

The price at the pump this year reached a peak of $3.62 on August 16, during the heart of the summer driving season; and with just a few corrections, has steadily dropped since then.

To find the lowest gas prices in your area, go to kentuckygasprices.com.  You can also download the GasBuddy mobile app at the Android and iPhone stores.