Gas prices across West Central Kentucky have edged higher this week, according to the latest AAA East Central Gas Price Report.
The average price for a gallon of regular unleaded in the region is now $2.58, up four cents from last week.
While the increase is noticeable, prices remain below where they stood at this time last year.
Locally, gas prices vary by community. The average price of unleaded self-serve gasoline is $2.63 in Bowling Green, $2.47 in Elizabethtown, $2.65 in Louisville, $2.48 in Owensboro, and $2.67 in Paducah. One year ago, the west central Kentucky average was $2.67, well below the record high of $4.74, set in June of 2022.
Nationally, the average price of regular unleaded has climbed six cents over the past week to $2.88 per gallon. Despite the uptick, drivers are still paying about 24 cents less per gallon than a year ago. AAA notes that this period typically brings lower gasoline demand, as winter weather reduces travel across much of the country.
New data from the U.S. Energy Information Administration shows gasoline demand fell last week, dropping from 8.30 million barrels per day to 7.83 million. At the same time, total domestic gasoline supplies rose, increasing from 251 million barrels to 257 million. Gasoline production dipped slightly, averaging 8.8 million barrels per day.
Crude oil prices also saw modest movement. West Texas Intermediate crude rose 26 cents Wednesday, settling at $60.62 per barrel. The EIA reports U.S. crude oil inventories increased by 3.6 million barrels last week. Total inventories now stand at 426 million barrels, about two percent below the five-year average for this time of year.
AAA also reports the national average cost to charge an electric vehicle at a public charging station remains unchanged at 38 cents per kilowatt hour.
AAA says drivers should continue to see relatively stable prices in the near term, though weather patterns and global oil markets will remain key factors influencing fuel costs.
