Kentucky Gas Prices Hit 14-Year High

Gas prices in western and central Kentucky jumped an average of 60 cents over the past week as the conflict between Russia and Ukraine continues.

According to AAA, the average price of gas west of Louisville was $3.81 a gallon, compared to $3.21 last week and $2.58 a gallon one year ago.

Prices ranged from $3.66 in Elizabethtown to $4.00 in Louisville. Gas prices throughout Lexington over the weekend were at $3.69 a gallon while Paducah and Bowling Green checked in at $3.80 per gallon.

The national average for a gallon of gas is $4.06, which is a staggering 45 cents more than a week ago, 62 cents more than a month ago, and $1.30 more than a year ago. The national average has not been this high since July 2008.

Meanwhile, the average price of a gallon of diesel in Kentucky is $4.50, an increase of 68 cents over last week and $1.71 per gallon over last year.

According to the AAA, Trigg and Lyon counties are two of 24 counties with the highest average cost per gallon at $3.90. Christian County is at $3.86 per gallon and Caldwell is at $3.79. Todd County has one of the lowest prices per gallon in western Kentucky at $3.71.

According to new data from the Energy Information Administration, total domestic gasoline stocks decreased by 500,000 barrels last week. Meanwhile, gasoline demand rose slightly from 8.66 million barrels per day to 8.74 million barrels per day. The increase in gas demand and a reduction in total supply contributed to rising pump prices. But, increasing oil prices play a leading role in pushing gas prices higher. Consumers can expect the current trend at the pump to continue as long as crude prices climb.