Gas prices have been steadily rising in Louisville. Why is this happening?
Gas prices are rising in Louisville, as the gap between the area's average prices and the national average is shrinking.
Prices have been steadily increasing in Louisville since mid-February, according to GasBuddy.
The average price per gallon for gasoline for the past month in Louisville was $2.71 as of Tuesday, 12 cents higher than a week ago, and 35 cents higher than a month ago.
The Louisville average is five cents below the national average. But that gap is closing. A week ago, Louisville gas prices were 12 cents below the average.
Why are gas prices rising?
There are multiple factors that go into setting gasoline prices, making it hard to pinpoint a reason for an increase. However, a couple contributors help explain the recent surge, said AAA East Central spokesman Jim Garrity.
Snowstorms in the Gulf Coast shut down refineries, halting 40% of gasoline production last month. Prices of crude oil, which is what gasoline is made from, have also risen $15 since the beginning of the year, he said.
Patrick De Haan, head of petroleum analysis for GasBuddy, said, "Gas prices continued to surge last week following cold weather-related shutdowns in Texas, but going forward, the impact from the cold has likely run its course. However, several other factors will rise in their influence on gas prices again, including the fact that gasoline demand continues."
The Cincinnati Enquirer contributed to this report.
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