Gas prices spike in Lexington. Kentucky has 2nd-highest price increase in the U.S.

Kentucky’s gas prices have spiked more than most other states in the past month.

Kentucky’s average price per gallon increased 12 cents in just a week and 13 cents in the past month, according to AAA. The monthly increase was the second-highest jump in the United States and pushed the commonwealth’s average price to $2.84.

Kentucky’s average gas price is now $1.20 higher than it was a year ago, when a surging COVID-19 pandemic caused a drastic drop-off in demand for gas.

The only state with a higher jump in the past week was Michigan, which saw an increase of 15 cents per gallon, according to AAA.

The jump in Kentucky has been worse in Lexington, where gas prices surged up an average of 15 cents per gallon in the past week, according to AAA. That pushed Lexington’s average price to $2.86 per gallon, 17 cents higher than a month ago.

Other areas of Central Kentucky saw increases too: Georgetown’s gas increased 5 cents, to $2.87, Versailles jumped 5 cents to land at $2.90, Winchester’s average price climbed 3 cents to $2.88 and Richmond prices increased by 9 cents, landing at $2.89.

Nicholasville, however, saw a decrease in prices over the past week: gas prices fell 2 cents to $2.69.

East coast hit by a pipeline shutdown, effect on Ky. is minimal

The Colonial Pipeline, a crucial fuel artery which delivers about 45 percent of all fuel to the East coast, was hit by a cybersecurity attack which prompted officials to shut the pipeline down. That pipeline runs from Texas to New York.

AAA predicts the shutdown of the Colonial Pipeline will only make prices higher, but impact on Kentucky’s prices isn’t expected to be significant.

“This shutdown will have implications on both gasoline supply and prices, but the impact will vary regionally,” Lori Weaver Hawkins said in a statement. Hawkins is the public and government affairs manager for AAA Blue Grass. “Areas including Mississippi, Tennessee and the east coast from Georgia into Delaware are most likely to experience limited fuel availability and price increases, as early as this week.”

Hawkins said those areas would experience potential increases of three to seven cents per gallon in the next week. Even when the mainline is turned back on, it could take 15-to-18 days to get fuel from Texas to New York. AAA has urged people not to panic-buy gasoline while the pipeline is shut down.