LOUISVILLE, Ky. — There may be some relief on the horizon at the pump.
Average gasoline prices in Louisville dropped 8.6 cents a gallon last week, according to GasBuddy's daily survey of 644 stations in the city. Additionally, certain factors that drove prices up earlier this spring may be less prevalent, according to an expert.
Prices are 6.6 cents less than a month ago and 25.2 cents lower than a year ago. The cheapest station in Louisville was priced Sunday at $2.95 a gallon, while the most expensive was priced at $3.89.
The national average went up 4.3 cents last week to $3.64. The national average for diesel fuel decreased 0.4 cents to $4.01.
"As the nationwide changeover to summer gasoline is now behind us, at least one of the three factors that had been actively causing prices to rise in the last couple of months is behind us," said Patrick De Haan, head of petroleum analysis at GasBuddy. "However, it may take time for the largest pain point to be over: refinery maintenance. The next few weeks should see many refineries wrapping up their work and gasoline output should rise, putting downward pressure on gasoline prices soon.
"While Israel's retribution on Iran was somewhat surprising, it was also measured, with Iran virtually not even mentioning it publicly. As such, the price of oil has moved slightly lower, following the de-escalation that now appears to be taking place. I'm hopeful with reduced concern in the Middle East and an end to the seasonal factors pushing prices up that Americans will soon see relief."
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