Posted: 09/07/2010
Gasoline prices in Kentucky rose 9.9 cents per gallon during the past week to an average price of $2.71 per gallon to start the week, according to the gasoline price website KentuckyGasPrices.com .
Meanwhile, the national average price fell 0.2 cents per gallon over the past week to $2.68 per gallon.
Gas prices in Kentucky were 29.2 cents per gallon higher than the same day one year ago but 5.6 cents per gallon lower than a month ago. The national average was 11.4 cents per gallon higher than a year ago but 9.3 cents per gallon lower than last month.
Gasoline prices in Northern Kentucky ranged from $2.63 per gallon to $2.79 per gallon, according to the website.
"With gasoline supply closing the summer driving season out at the highest levels since records began in 1990, there will be significant pressure for prices to fall, especially if hurricane season doesn't make a large impact on high supply numbers," Patrick DeHaan, senior petroleum analyst for GasBuddy.com , said in a release issued by the company. "Combine those high supply numbers with typically weak autumn gasoline demand numbers, and fundamentals easily merit lower gasoline prices than we're currently seeing."
DeHaan projects that average prices across the nation could fall as much as 20 cents per gallon in the next four to eight weeks as refiners move out cheaper winter gasoline. But he cautions that hurricane season could temporarily impact gasoline prices although any impact would be short lived given the high supply of gasoline and the weak demand for the fuel.
For a look at gasoline prices throughout Northern Kentucky and Greater Cincinnati, click here .
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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