At $ 3.09, the national gas price average is at its highest level of the year with no signs of stopping. That average could rise to another penny before the Independence Day holiday weekend, as the AAA predicts a record 43.6 million Americans will hit the road for a vacation getaway. This year’s Independence Day weekend is defined as Thursday July 1 through Monday July 5.
In Kentucky, however, it was a different story as the average price of gasoline fell an additional two cents for the week, hitting $ 2.86. This makes the state average the tenth cheapest in the country. Today’s Kentucky average is about four cents less than a month ago.
While it’s typical to see gasoline prices rise before the holidays, especially during the peak summer driving season, the increases in prices at the pump in recent times have been noticeable.
âToday, 89% of US gas stations sell regular unleaded for $ 2.75 or more. This is a big increase from July 4, when only a quarter of stations sold gasoline for more than $ 2.25, âsaid Lori Weaver Hawkins, director of public and government affairs, AAA Blue Grass. âRoad tripers will pay the most to fill up for vacations since 2014.â
Today’s Kentucky average price for a gallon of unleaded is two cents lower than last week and four cents lower than a month ago. Today’s average is now 76 cents higher than the Commonwealth average of $ 2.10 seen a year ago.
With higher gasoline prices nationwide and more people planning to enjoy a great American road trip this holiday weekend and throughout the summer, motorists are advised to keep these tips in mind to save fuel:
â¢ Plan ahead to complete multiple errands in one trip and, if possible, avoid busy times of the day.
â¢ If you own more than one car, use the most fuel efficient model that meets the needs of a given route.
â¢ Remove unnecessary and bulky items from your car. Minimize your use of roof racks and remove special brackets when not in use. It takes more fuel to accelerate a heavier car, and the reduction in fuel economy is greater for smaller cars than for larger models.
â¢ Minimize your use of air conditioning. Even at highway speeds, open windows have less of an effect on fuel economy than the engine horsepower required to run the A / C compressor.
â¢ In hot weather, park in the shade or use a sun visor to reduce heat build-up inside the car. This reduces the need for air conditioning and fuel to cool the car.
The 10 biggest weekly increases in the country: Utah (+12 cents), Indiana (+11 cents), Oregon (+9 cents), Washington (+9 cents), New Mexico (+8 cents), Alaska (+8 cents), Wyoming (+8 cents) ), Idaho (+8 cents), Minnesota (+7 cents) and Colorado (+7 cents).
The 10 cheapest markets in the country: Mississippi ($ 2.73), Louisiana ($ 2.74), Texas ($ 2.77), Arkansas ($ 2.79), Alabama ($ 2.80), Oklahoma ($ 2.80), Missouri ($ 2.80), South Carolina ($ 2.81), Tennessee ($ 2.84) and Kentucky ($ 2.86)).
As the official Friday trading session closed, the price of West Texas Intermediate (WTI) oil rose 75 cents to settle at $ 74.05. Crude prices rose last week amid optimism that the vaccine rollout will continue to help the recovery in crude demand. The price of crude has crossed the threshold of 74 dollars per barrel and prices have not reached this level since October 2018.
Crude prices have been bolstered by the latest Energy Information Administration report, revealing that total domestic crude supplies have declined by 7.6 million barrels to 459.1 million barrels. For this week, another reduction in the domestic supply of crude could push prices higher after the release of the next weekly EIA report.
AAA Blue Grass