STAFF REPORT
Glasgow News 1
Gas prices have slipped slightly across west central Kentucky, giving drivers a modest break at the pump ahead of the Independence Day travel rush. AAA East Central’s Gas Price Report says the regional average for regular unleaded is now $3.495 per gallon, about three cents lower than last week’s $3.528. Glasgow comes in slightly below the region average at $3.43 per gallon, according to GasBuddy.com. AAA lists today’s average at $3.483 per gallon in Bowling Green and $3.475 in Elizabethtown. Drivers in Louisville are paying more, with the average at $3.605 per gallon, while Owensboro is lower at $3.367 and Paducah stands at $3.544.
Nationwide, motorists are also seeing some relief. AAA says the national average for a gallon of regular gasoline is $3.92, the lowest since mid-March and the result of nearly four straight weeks of declines. Today’s national average is 63 cents less than a month ago but remains 71 cents higher than this time last year.
The national trends come as crude oil prices have been moving lower. According to data summarized by AAA from the Energy Information Administration, U.S. crude inventories fell by 8.3 million barrels last week, leaving overall inventories about 6% below the five-year average for this point in the year. At the close of Wednesday’s formal trading session, West Texas Intermediate crude rose 74 cents to settle at $76.79 a barrel.
Gasoline demand has increased heading into the summer driving season. EIA data show demand climbed from 8.73 million barrels per day to 9.21 million last week, while total domestic gasoline supply slipped from 215.1 million barrels to 214.2 million. AAA says gasoline production also increased, averaging 10.1 million barrels per day. The declines at the pump come as millions of Americans are preparing to travel for Independence Day in what AAA describes as record numbers starting next weekend.
Key Facts
– West central Kentucky’s average gas price is $3.495 per gallon, down three cents from last week
– Glasgow’s average gas price sits at $3.43 per gallon
– AAA says the national average for regular gas has fallen to $3.92, the lowest since mid-March
– Today’s national average is 63 cents less than a month ago but 71 cents higher than a year ago
– Local averages range from about $3.37 in Owensboro to $3.61 in Louisville
– Crude oil inventories are about 6% below the five-year seasonal average, according to federal data
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