Gas prices are continuing to take their precipitous tumble, opening this week in west central Kentucky nine cents lower than last.
According to AAA East Central’s Gas Price Report, petroleum in west Kentucky is now at an average $3.20 per gallon. Prices dipping below $3.00/gallon by the winter holidays is becoming a real possibility.
The average price per gallon last week was $3.29.
In Paducah, prices have opened at $3.14/gallon. In Owensboro, $3.12. In Louisville, $3.43. In Elizabethtown, $3.04. And in Bowling Green, $3.26.
On the national trend, the average price of gasoline dropped four cents this past week to $3.67. Lower gasoline demand and the transition to winter-blend petroleum are key reasons for this decline.
The national average has fallen $1.34 since its peak in mid-June, and today’s average is 24 cents lower than a month ago, but still 48 cents higher than a year ago.
Per the Energy Information Administration (EIA), gas demand decreased from 8.73 million barrels per day to 8.49 million barrels per day last week. And total domestic gasoline stocks declined by 1.8 million barrels to 213 million barrels.
