WKYT | Lexington, Kentucky | News

Lower Prices at the Pump

By: Dara Rees Email
By: Dara Rees Email

The average price for one gallon of gasoline in the Commonwealth is less than two dollars. Oil prices are now at a 21 month low, but not everyone is optimistic the prices will stay down.

The low prices are pleasing many at the pump.

Ronnie Hayes from Mt. Vernon says, "The prices, they can still come down a little bit, but it's helped out a whole lot."

Richard Dailey says this is one of the first times he's filled up his tank in months. "I haven't done that in a while. I travel a lot, but I pump gas as I need it in hopes it will go down."

But Dailey says he is still driving less and a recent study by the Department of Transportation shows he's not the only one.

AAA Spokesperson Christopher Oakford says, "At that point, compared with 2007, Americans had driven 67 billion fewer miles in 2008."

Oakford says he's not sure how OPEC's decision to cut production of crude oil will affect the holiday season. "There is some optimism, if things remain the same, crude oil staying the same at this low price then we would estimate it would be, at a national average, certainly below two dollars at a national average."

"Maybe the economy will get a little better here before long. It needs to. It's still got room to improve a whole lot," says Hayes.

Many people filling up their tanks say they are expecting the worst and hoping for the best when it comes to the price at the pump. One gallon of gas in Kentucky is currently 21 cents below the national average of $2.20.


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