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Gas prices climb for fourth week straight as demand rises

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Posted at 7:00 PM, Jan 25, 2023

LEXINGTON, Ky. (LEX 18) — Gas prices are climbing for the fourth week in a row, according to GasBuddy.com.

“Oh, the gas prices are much too high,” said LaMont Jones, pumping gas at a Shell in Lexington.

The surge in gas prices has Jones dreaming of simpler times, like the year he got his driver's license.

“If I remember right, that was probably a dollar or a dollar-fifty a gallon. It was never an issue. That was years and years ago…obviously,” laughed Jones.

A couple pumps down, Wayne Glenn told LEX 18 that he only fills up his tank using a discount at Sam’s Club. He’s only at Shell for a cup of coffee until gas prices go down.

“They have been on the uptick, it's kind of ridiculous, but it is what it is,” said Glenn.

According to AAA Blue Grass, Lexington isn’t even the worst of Kentucky’s communities when it comes to gas prices.

“Lexington's a little lower than Kentucky's average, it's about $3.16, but that's still about 11 cents more than we were looking at a week ago,” explained Lori Weaver Hawkins with AAA.

Today’s average cost of gas in Kentucky is $3.21/gallon. Nationally, the average is $3.48/gallon.

Experts say a combination of China’s economy and the weather is to blame.

“It’s more of a global issue,” said Weaver Hawkins. “China’s economy is opening back up.”

Despite high coronavirus infection rates, the reopening of China's economy will help to boost global gasoline demands, according to AAA.

Additionally, milder weather in parts of the U.S. has more people fueling up and hitting the road, driving the demand for gas and begging the question Weaver Hawkins has asked herself.

“How long will this last? Yeah…we're really expecting 2023 to be volatile like we saw in 2022.”