Published: Thu, May 03, 2018
Finance | By Gustavo Carr

Kentucky Gas Prices Continue to Climb

Kentucky Gas Prices Continue to Climb

Jackson- $2.52/g, up 2.1 cents per gallon from last week's $2.49/g. Both factors are playing a role in the spike in oil prices.

AAA is saying the national average will stop short of $3 a gallon, but Connecticut's average is always much higher, so you can expect prices here to easily top $3, if they haven't already where you live.

In Friday market action, benchmark USA crude fell 0.1 percent to $68.10 a barrel in NY while Brent crude, used to price worldwide oils, fell 0.1 percent to $74.64 per barrel in London. Crude prices are now about $68 a barrel.

The prices are the highest in North America, and they're shocking drivers and analysts alike.

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"The only good news for motorists?" Midgrade is averaging $2.99, from $2.79 to $3.39.

"It's about $8 more a tank than it was a year ago", Krog said. Pennsylvania, on the other hand, saw its gas taxes fall 0.6 cents per gallon, yet it still leads the nation with combined axes amounting to over 77 cents per gallon.

"We're seeing a higher price environment", said Kloza to the AP. Global economic growth has more people using oil, so demand is up worldwide. With a 430,000 barrel draw, inventories in the Great Lakes and Central region fell this week to 56.6 million, according to the latest Energy Information Administration (EIA) data.

Monday was the conclusion of what was the most expensive April for gas prices in four years, according to the auto club AAA. Pump prices normally rise as demand increases from families going on vacation and taking to the highways on road trips. And across the US, 13 percent of gas stations are charging $3 per gallon or more, AAA said. Throughout the month, the state average rose a total of 16 cents. They're ranging from $2.68 to $2.80 per gallon. It's tied with Hawaii for the highest average gasoline prices in the U.S.at $3.61 a gallon.

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