LOUISVILLE, Ky. — Gas prices are climbing in the Louisville area.
The average price for a gallon of gas rose 15.5 cents last week for a price of $3.75, according to GasBuddy's daily survey of 644 stations in the city. The average price is 25.9 cents higher than a month ago and 8.7 cents higher than a year ago.
The cheapest station in Louisville was priced Sunday at $3.18 a gallon, while the most expensive was $3.99.
The national average went up 2.5 cents last week to $3.82. The national average for diesel fuel increased 12.3 cents to $4.27.
This is the highest the average price has reached nationally since gas was $3.84 last October.
"It could climb slightly higher as we get closer to Labor Day, as oil prices remain under pressure from recent OPEC+ production cuts," said Patrick De Haan, head of petroleum analysis at GasBuddy. "While July CPI data looked pretty good with energy prices well below their year-ago level, August data isn't going to look nearly as friendly. Gasoline prices stand just over a dime away from rising back above their year ago level - something that is definitely possible by the closing summer holiday.
"In addition, the largest refinery in the Midwest moved up its seasonal maintenance to several weeks earlier than expected, causing a somewhat unexpected jump at the pump in the Great Lakes. Motorists will likely see a mixed bag at the pump this week, with a few states seeing prices fall slightly, while others will see the opposite."
In July, OPEC+ nations cut oil production to a near two-year low, including a major voluntary cut by Saudi Arabia.
Another reason for the increase in price is the ongoing heat wave in the southern U.S. Refineries in Texas, Louisiana and across the Gulf Coast struggle to operate at peak capacity during long stretches of 100-degree weather.
RELATED VIDEO
