February 4, 2013

Kentucky Gas Prices Hit $3.42 on Average

Gasoline prices soared in 2012, accounting for close to 4 percent of incomes for residents in the United States, according to a recently released government report.

A report from the Oil Price Information Service revealed that Americans paid a record amount for gasoline in 2013, reaching $479 billion for the year.

The Energy Department said all of this is related to higher prices, as Americans are actually buying less gasoline because of the higher costs, as well as more fuel efficient vehicles.

Gasoline prices in 2012 reached its highest levels in 2012, as geo-political issues in the Middle East, outages at refineries, and bad weather slowed down supply.

Across the nation, gas prices averaged $3.60 a gallon for the year, climbing 9 cents from 2011. In Kentucky at this time, gas prices average $3.42 a gallon across the state.

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