LOUISVILLE, Ky. (WDRB) – Heading into the Memorial Day weekend, filling up the gas tank has gone from a headache to a migraine.
“I think they're trying to just stick us up for the holiday,” said Cliff Robertson, who was filling up his car Thursday heading into the holiday weekend.
The gas prices are some of the highest in the last four years. Some were as high as $3.29 a gallon, like at the Marathon Gas Station off Dutchman’s Lane in St. Matthews, or as low as $2.89 a gallon like at the Meijer and Marathon-Circle K in Jeffersontown.
“It's really, really frustrating, especially since there's like a lot of disparities between gas prices and location,” said Lucas Cliff, who was also filling up his car Thursday.
The Louisville area average is at $3 a gallon. But the good news is that Louisville is expected to soon drop back below the national average of $2.98 a gallon, according to Patrick DeHaan, the head of petroleum analysis with Gas Buddy.
“It'll actually start drifting lower for the stations that went way up," DeHaan said. "That's usually what happens after we see the big jumps in Louisville. Prices jump up in huge amounts then they start to trickle back down. But nationally, we'll continue to see the national average move higher."
The up-and-down game is called price cycling.
“The Federal Trade Commission has found this cycle, though maddening, can actually save people a couple cents a gallon,” DeHaan said.
He said it happens about every week-and-a-half to two weeks in Louisville. So he said to shop around and look for the best prices, even if it is an extra few miles away.
DeHaan also said prices are high right now because in 2016 OPEC cut oil production because prices were too low. Inventory then plummeted, which in turn caused the price to skyrocket. In June, OPEC is expected to consider increasing oil production.
“If that happens, that could push oil prices back down slightly and lead to a slightly less painful summer at the pump,” DeHaan said.
To save even more money, DeHaan also said there are some days that are cheaper than others to purchase gas. In both Kentucky and Indiana, the cheapest day to fill up is typically Monday.
“Monday morning is generally the best, because stations drop their price over the weekend, but then Monday morning sometimes you start to see them going up," he said. "So I always tell people to fill up on the way to work Monday morning."
DeHann added that Thursday is typically the most expensive day to fill up at the pump.
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