Gas Prices Expected to Increase in Louisville

by scrosby on August 27, 2008

Gas prices dropped in the Louisville area over the last couple of days, but they’re likely to go up again soon.

AAA’s Roger Boyd says a gallon of regular unleaded gas in Louisville costs about $3.64…but it’s on the increase. He says that’s partly because of the storm system Gustav in the Caribbean.

“The futures market bids it up because they have concerns that maybe there will be a hiccup in supply of oil,” say Boyd. “But unless there’s significant damage done those prices don’t stay high very long.”

The other reason for the increase is the long, holiday weekend. Boyd says AAA is predicting fewer Americans will drive over the Labor Day weekend because of higher gas prices. But for the most part – he says – Americans have adjusted their budgets to accommodate the increased expense.

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