President Trump promised lower gas prices. Are they in Lexington?
Heading out this weekend for a road trip? You’ll get a pleasant surprise at the pump: Gas prices in Lexington have dropped since President Donald Trump began his second term.
The Herald-Leader has been tracking the price of groceries and gas at different stores across Lexington since the second inauguration of President Donald Trump Jan. 20.
The average cost of gas across the stores we tracked hit $2.91 in May. That’s 19 cents cheaper than inauguration weekend in January, or a 6.1% decrease.
Gas prices have ebbed and flowed. Here’s what our monthly tracking revealed:
▪ On inauguration weekend, the average price of for one gallon of gas sat at $3.10 across the stations we visited — Kroger, Casey’s and BP.
We started gathering data from Meijer in February.
▪ The average price dropped to $2.82 in February, and inched upwards to hit $2.86 in March.
▪ But, the cost for one gallon of gas jumped up to $2.98 in April, before falling again in May to $2.91.
Trump has overstated the drop in gas prices
Trump referred to the U.S. underground oil supply as “liquid gold under our feet” during his campaign, and promised to lower gas prices for Americans by increasing oil production if elected for a second term.
Gas prices have dropped, but they are not as cheap as the president says.
“Gasoline prices just hit $1.88 a gallon in three states. Can you believe it?” President Donald Trump said while delivering the commencement address at at University of Alabama May 1.
You shouldn’t believe it.
The same day Trump claimed prices dropped below $2, the lowest average cost in any state was $2.66 in Mississippi, according to AAA. The national average sat at $3.19.
How does drilling affect gas prices?
Much like grocery prices, gas prices are mostly affected by supply and demand.
“As demand goes up, if supply can’t keep up, then prices tend to go up,” said Mike Clark, an associate professor of economics at the University of Kentucky.
The price of crude oil, which is unrefined natural oil mined from the earth, is the main component of gasoline. The cost of crude oil is the main driving factor behind the cost of gas, according to the U.S. Energy Information Administration.
Drilling more domestically, like Trump promised to do on the campaign trail, would increase the supply of crude oil which, in theory, would subsequently lower the price of gas.
But, domestic drilling doesn’t only supply Americans with gas. American crude oil is shipped all over the world.
In an interview with personal finance company NerdWallet, Patrick De Hann, the head of petroleum analysis at GasBuddy, an app that tracks gas prices, said even if the U.S. increases crude oil production, there aren’t enough refineries to keep up with the supply.
His prediction? That means prices won’t see a dramatic drop.
This story was originally published June 6, 2025 at 2:27 PM.