On Thursday, Louisville drivers may have noticed gas prices spiking nearly 30 cents at some stations. That’s after prices had been hovering around $1.40 – $1.50, and several months after prices hit record highs above $4.00. But Louisville AAA spokesman Roger Boyd says that, although it’s unclear why, yesterday’s spike is fading.
“We’ve already seen that price not only starting to creep down yesterday afternoon but continuing to decline today, so while that spike was significant and it wasn’t well-received by motorists, hopefully it will not be long-lived,” says Boyd.
But Boyd says there is still some uncertainty about gas prices ahead. The price of a barrel of oil has dropped dramatically from highs earlier this year. But oil producers in the Middle East as well as in Russia are considering cutting production, which could affect prices at the pump.