West Central Kentucky Gas Prices Dip as Regional Inventory Builds
West Central Kentucky gas prices dropped by four cents to $2.30 per gallon this week, according to AAA East Central’s Gas Price Report.
On the National Front
At $2.53, the national gas price average has held steady for nine days. Factors contributing to the flat price include increased gasoline production that has kept pace with higher than usual demand this winter. The latest EIA report shows that demand increased week-over-week, registering at 9.2 b/d – the highest gasoline demand level seen this year.
At the close of Friday’s formal trading session on the NYMEX, West Texas Intermediate (WTI) increased $1.92 to settle at $62.04. Earlier in the week, after EIA’s weekly report noted that crude oil inventories increased by 2.4 million barrels last week, WTI prices took a hit. Crude prices rebounded toward the weekend because of a strong rally alongside the stock market. The price of crude has the potential to slide this week amid the fact that U.S. crude production continues to boom.
When it comes to local averages for one gallon of regular unleaded, Munfordville and Park City have the lowest cost of $2.26 per gallon. Horse Cave and Smiths Grove are next at $2.29 and Cave City, Glasgow, Edmonton and Tompkinsville are all at $2.35. Brownsville is next at $2.39. Coming in with the highest average, and a dime higher, is Scottsville, where motorists are paying around $2.49 per gallon.
**prices averages are as of the morning of 3/14/2018