LOUISVILLE, Ky. — Editor's note: the above video is regarding fuel efficiency for E15 vehicles.
Gasoline prices in Louisville are shooting up, according to the latest numbers released Monday by GasBuddy.
The average price for a gallon of gas in the city rose 27.5 cents in the last week for an average of $3.51, according to GasBuddy's survey of 644 stations in Louisville. Prices are 25.5 cents higher than a month ago and 10.2 cents higher than a year ago.
Just last week, GasBuddy reported a slight drop in gas prices. Now, Louisville is experiencing a large spike in gas prices.
The cheapest station in Louisville Sunday was priced at $3.08 a gallon, while the most expensive was $3.75.
The national average increased 6.5 cents a gallon last week for an average of $3.57.
Neighboring areas and their current gas prices:
- Lexington: $3.42/g, up 21.7 cents per gallon from last week's $3.20/g
- Cincinnati: $3.55/g, up 19.9 cents per gallon from last week's $3.35/g
"After a brief break, gas prices have leapt back up, driven by extensive refinery maintenance on the West Coast, where prices have increased notably; only a handful of states have seen prices decline over the last week," Patrick De Haan, head of petroleum analysis at GasBuddy, said. "With oil prices rising to nearly $87 per barrel last week, their highest since October, we are not only facing the seasonal factors that push prices up—refinery maintenance, the switch to summer gasoline, and rising demand—but also escalating crude oil prices as OPEC's production cuts continue to cause declining global oil inventories, with escalations between Iran and Israel adding to concerns of further destabilization. The West Coast is likely to see gas prices continue to jump, and in a week or so, will be joined by the mid-Atlantic and Northeast states as they wrap up the transition to summer gasoline."
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