What a turnaround: At some stations, gas dips below $2 a gallon

A gallon of regular gasoline was selling at less than $2 a gallon at some Jessamine County stations Thursday. That's something that hasn't been seen in these parts for a long time.

Statewide, regular gasoline was selling for an average of $2.38 a gallon Thursday.

"That's down considerably from yesterday, when it was $2.43," said Christopher Oakford, spokesman for AAA Blue Grass/Kentucky.

"This time a month ago, it was $3.69. It's really dropped," he said. "This time last year, it was $2.89."

In the Lexington area, the average price of regular was $2.28 on Thursday, 10 cents lower than Thursday's statewide average, and dropping. Gas first bumped over the $2 a gallon mark in Lexington back in 2004.

Worries about refining and distributing gasoline caused by hurricanes like Gustav and Ike, which contributed to the most recent spike, have dissipated, Oakford said. About 90 percent of the nation's refineries were closed for about three weeks as a precaution when those hurricanes were a threat, and gas went as high as $4.60 a gallon in parts of Kentucky.

Perceived shortages pushed prices up, Oakford said. "That's gone now."

Nationwide, a gallon of regular averaged $2.54 on Thursday, compared with $2.58 on Wednesday, he said.

Oakford said he thinks a gallon of regular gasoline will average less than $2.50 nationwide by Thanksgiving and will continue on a downward slide for at least a while.