According to AAA the national average for a gallon of regular gasoline is up 3 cents from last week to $4.09, which marks the highest it’s ever been on this date.
This August is shaping up to be the highest on record. So far, the monthly average is $4.06, currently surpassing 2022 when the monthly average for August was $3.97. Even though gasoline demand is down, which is typical for this time of year, crude oil is pushing up the national average. Crude oil prices remain in the $80 per barrel range amid continued instability in the Strait of Hormuz. According to new data from the Energy Information Administration (EIA), gasoline demand decreased last week from 8.96 million barrels per day to 8.68 million.
The Kentucky average for a gallon of regular unleaded is at $3.66. As of Tuesday morning here in the Lake Cumberland Area Wayne County is in the middle of our surrounding counties with an average of $3.66. Clinton County has the highest in the area at $3.74, McCreary County is at $3.69, Russell County at $3.63, and Pulaski County has the lowest price at $3.58.