Winter weather contributes to gas price increase in region – ABC 36 News

LEXINGTON, Ky. (WTVQ) – Cold weather that gripped the nation, including oil-refinery states in the South, contributed to Lexington gas prices rising 6.2 cents per gallon in the past week, averaging $2.42/g Monday, according to GasBuddy’s daily survey of 275 stations in Lexington.

Gas prices in Lexington are 12.3 cents per gallon higher than a month ago and stand 24.2 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in Lexington is priced at $2.29/g Monday while the most expensive is $2.59/g, a difference of 30.0 cents per gallon. The lowest price in the state is $1.85/g while the highest is $2.79/g, a difference of 94.0 cents per gallon.

The national average price of gasoline has risen 10.4 cents per gallon in the last week, averaging $2.63/g today. The national average is up 24.2 cents per gallon from a month ago and stands 15.1 cents per gallon higher than a year ago.

Historical prices in Lexington and the national average going back 10 years:
February 22, 2020: $2.18/g (U.S. Average: $2.48/g)
February 22, 2019: $2.34/g (U.S. Average: $2.40/g)
February 22, 2018: $2.39/g (U.S. Average: $2.52/g)
February 22, 2017: $2.24/g (U.S. Average: $2.28/g)
February 22, 2016: $1.56/g (U.S. Average: $1.71/g)
February 22, 2015: $2.28/g (U.S. Average: $2.29/g)
February 22, 2014: $3.32/g (U.S. Average: $3.39/g)
February 22, 2013: $3.73/g (U.S. Average: $3.78/g)
February 22, 2012: $3.49/g (U.S. Average: $3.58/g)
February 22, 2011: $3.11/g (U.S. Average: $3.16/g)

Neighboring areas and their current gas prices:
Kentucky- $2.41/g, up 10.1 cents per gallon from last week’s $2.31/g.
Cincinnati- $2.63/g, up 19.5 cents per gallon from last week’s $2.44/g.
Louisville- $2.57/g, up 11.6 cents per gallon from last week’s $2.45/g.

“With last week’s extreme cold shutting down millions of barrels per day in refinery capacity, gas prices have seen their largest weekly climb in quite some time,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The jump in price was the result of a dozen or so refineries, primarily in Texas, that were forced to shut down as the frigid temperatures threatened to wreak havoc on their exposed equipment. With the cold weather behind us, price increases show begin to slow later this week or next week, and so long as these refineries get back online in short order, we may see gas prices start to move back down in the next couple of weeks. However, as we near spring weather, we’ll likely see another longer term rise in prices begin as refineries start to transition to summer gasoline, so motorists shouldn’t jump for joy just yet.”