The price of a gallon of regular unleaded gasoline has reached $4.00 at several Louisville-area pumps and is well above $3.80 at many others.
Kentucky Triple-A spokesperson Roger Boyd says he can’t really pinpoint a specific reason for the recent jump. He had expected the price to stay under $4.00 through the summer travel season.
“There are actually some analysts who believe this is just like the stock market, and that as a commodity, gasoline is now overpriced, and at some point, it will crash. It will come down because it is simply priced way beyond what it actually should be, based on the price per barrel and supply and consumption,” Boyd said.
The summer driving season begins later this month with the Memorial Day weekend.