Kentucky gas price remains just below $5 mark

There is no word yet on whether the EPA has granted the waiver

FRANKFORT, Ky. (KT) – Gas prices continue to rise, with the nationwide average price per gallon topping the $5 mark, although that is not the case in Kentucky, according to GasBuddy.com, a crowd-sourced gas price website and app.

For the eighth straight week, the nation’s average gas price has climbed, jumping 15.7 cents from a week ago to $5.01 per gallon on Tuesday, according to GasBuddy data compiled from more than 11 million individual price reports covering over 150,000 gas stations across the country.

The national average is up 57.1 cents from a month ago and $1.94 per gallon higher than a year ago. The national average price of diesel has risen 13.8 cents in the last week and stands at $5.77 per gallon.

“For now, the upward momentum may slow down, but we are still just one potential jolt to supply away from heading even higher,” said Patrick De Haan, head of petroleum analysis at GasBuddy.  “Gasoline demand, while rising seasonally, is still well below previous records, but remains impressive with prices in all states at record levels.  Should the rise in price finally start to slow demand’s rise, we could see some breathing room, but for now, it seems like Americans are proving resilient to record highs.”

Kentuckians are able to dig a bit less deeply in their pockets when paying at the pump, than the nation as a whole, according to GasBuddy.  Here are the trends on Tuesday, June 14, as of 3:30 pm, ET, comparing Kentucky to the U.S.

 You may also note there are a couple other actions that may reduce gas prices a bit more.  On June 10, Gov. Andy Beshear announced he has sent a letter to top administrators at the U.S. Environmental Protection Agency, requesting a waiver that would remove the requirement for residents in the Louisville area to use more costly reformulated gas.

On June 2, he filed an emergency regulation which will prevent an increase in Kentucky’s gas tax from taking effect on July 1.  Under state law, Kentucky’s gas tax, which is currently 26 cents per gallon, would increase another two cents per gallon because of the rise in the wholesale price of gasoline over the past year. 

There is no word yet on whether the EPA has granted the waiver.