For motorists, gasoline prices in many areas of Kentucky have been moving in the right direction in July. Triple-A of the Bluegrass Public Affairs Manager Lori Weaver Hawkins said oil prices have dropped about $20 per barrel since mid-June. That impact was greater than increased demand during holiday driving periods. Weaver Hawkins said Kentucky’s urban areas tend to see higher prices at the pump than many rural communities.
“We have greater populations of course in those urban areas and so you have multiple stations that can, they kind of compete against each other. That probably plays a large part in it,” said Weaver Hawkins.
Weaver Hawkins noted there are global supply issues including the impact of the Russia-Ukraine war as well as seasonal hurricane activity that can affect prices. In Kentucky, the lowest per-gallon price this week was found in Knox County at 3.91.
She said it’s always a guessing game when trying to predict prices later this summer.
“You know how far we go. Like I say, there’s not a way to predict that and do it with any sort of validity really, because of the factors involved,” said Weaver Hawkins.
Lexington’s gas prices are hovering around 4 dollars 50 cents per gallon. That compares with just under three dollars a gallon a year ago.
