LOUISVILLE, Ky. — Editor's note: the above video is regarding fuel efficiency for E15 vehicles.
There may be some relief on the horizon at the pump.
Average gasoline prices in Louisville dropped 15.5 cents a gallon last week, according to GasBuddy's daily survey of 644 stations in the city. This comes after a 30-cent increase the week before.
Prices are 15.2 cents higher than a month ago and 11 cents higher than a year ago. The cheapest station in Louisville was priced Sunday at $2.99 a gallon, while the most expensive was priced at $3.99.
The national average fell 5.8 cents last week to $3.50. The national average for diesel fuel dropped 1.8 cents to $3.82.
"The calendar has closed on May, and so too has the door closed on rising gas prices, with the national average declining to its lowest level since March. Thankfully, gas prices are unlikely to be moved by OPEC's meeting and agreement to extend production cuts into 2025, leading the national average to fall below $3.50 in the next week," Patrick De Haan, head of petroleum analysis at GasBuddy, said.
"With GasBuddy data showing gasoline demand plummeting after Memorial Day, and refiners inputting the largest amount of oil into their facilities in years, it's very likely we'll continue to see gas prices fall as we approach July 4. Diesel prices also continue to decline to their lowest level in nearly 11 months. The future looks bright for falling fuel prices across the board, though we'll have to keep our eyes on hurricane season."
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