After three-plus weeks of increasing gas prices in west central Kentucky, gas prices are opening up a bit lower than last.
Per the AAA East Central Gas Price Report, the regional average has fallen five cents per gallon — going from $3.45 to $3.40.
This time last year, however, prices were at $3.00 per gallon.
In Bowling Green, it’s $3.30. It’s $3.25 in Elizabethtown, $3.77 in Louisville, $3.36 in Owensboro and $3.35 in Paducah.
National gas prices finally took a decrease in the last seven days, falling three cents to $3.88 per gallon. Lower gasoline demand, increasing supply and fluctuating oil prices are immediate reasons for recent downward trends. Monday’s national average remains 20 cents higher than a month ago, and 56 cents higher than a year ago.
While the Dow Jones Industrial Average closed 1% higher over the last five business days, both the Dow and the S&P 500 dipped heavily at the end of public trading Friday. West Texas Intermediate decreased $3.50 a barrel to $85.61, as concerns and brazen chatter regarding a possible global recession led to a drop in the overall price of crude.
Per the AAA, fewer American drivers fueled up in the first half of October, thus lowering demand.
