(LEX 18) — Over the last few days, gas prices have fallen around $0.08, according to a local AAA. That brings the new state average to $3.84. A week ago, prices in the state were $3.92, a month ago around $4.04, and a year ago just $2.70.
Now, President Biden is looking to allow more E15 gasoline - a gas with 15% ethanol - in hopes it will lower prices at the pumps.
Debbie Morris, the owner of Silver Streak Market, says her margins are low.
"My margin hasn't gotten any better, you know it's a very small margin."
Almost a month ago, Morris told me that she made around $0.10 for every gallon of gas. That's still true today - down from the $0.20 per gallon she made before this spike. Now, she says she pays about $2,000 more for 1,500 gallons of gas. But she's seen more customers at the pumps. She thinks people aren't filling up.
"It's a great thing because now they come in, and then a lot of people don't know, 'Oh you have a restaurant here?' so it does help me in that aspect and that's the only thing I can think, the reason that I’m seeing more and more people is that people just aren't filling up,” says Morris.
As people at the pumps continue to look for gas prices to go down, AAA talks more about what president Biden’s gas push will mean.
AAA Blue Grass Public Affairs Manager, Lori Weaver Hawkins, says, "When you increase the ethanol blend, you increase the amount of ethanol in gas -- that we would surmise would decrease the amount of oil that's being used."
It's too soon to tell if the 15% ethanol gas will save people more. AAA leaders believe President Biden’s goal is to reduce oil consumption. Morris says having her general store and restaurant has helped her business. She's avoiding raising her prices at all costs.
"It's hard when it's so expensive to start off with, and I don't want to do that because that's part of what I wanna be is that neighborhood store,” says Morris.
It is important to note that the 15% ethanol gasoline is only for vehicles from the model year 2001 or later. E15 cannot be used for motorcycles or off-road vehicles.
