Experts say gas prices are leveling off in Louisville

LOUISVILLE, Ky. (WDRB) -- While gas prices remain high in Louisville, experts believe they are starting to level off.

The national average for prices Tuesday was $4.24 a gallon, according to AAA. The average in Kentucky is $3.98.

"A couple weeks ago, people were concerned or discussing the possibility of seeing national averages along the lines of $5 or more per gallon, and we haven't seen that yet," said Abby Blanco, as associate professor of economics at Bellarmine University. "So the markets have calmed down a bit. You're seeing things like peace talks."

Economic experts said supply and demand are big factors in why prices may differ from town to town. For example, gas prices may remain a bit higher in Louisville than in surrounding rural communities because Louisville is a more populated city and has more demand.

As of now, experts said only time will tell when prices will fall again.

"We're still looking at pre-pandemic levels of output form refineries," Blanco said. "You have the issue of what's going on with Russia and Ukraine, which are also contributing to higher prices, and also just general factors of supply and demand that are always there. But we really just have the perfect storm right now for higher prices.

For those looking to travel for spring break or this summer, experts said drivers can save some cash by doing a little research and planning out stops to get gas in states with lower taxes.