Louisville gasoline prices ... :
... following a 20-cent jump in prices at many Louisville-area stations to a record $3.76 per gallon. ...
The price jump began yesterday morning. It was hard to say whether the increase reflected a broader regional or national increase, "or if, as most motorists will assume, it's purely Derby-related," said Roger Boyd, spokesman for AAA in Louisville.
Last year, Louisville prices rose 19 cents per gallon in the week before Derby -- though previous years have also seen minor price decreases.
Gas demand increases (with more drivers) and becomes more inelastic (you can't choose not to drive to the Derby Party) leading to higher prices.
People always ask me*, what do you miss most about Kentucky?
Next to my family and friends, UK Wildcat football and basketball and tiny Centre College ... it's Derby Week. You don't have to know anything about horse racing, and I don't (except this: don't put money on the gray horse, everyone who doesn't know anything does since most of the horses are brown and so you get poor odds), to enjoy the festivities (burgoo, hot brown, mint julep ...).
Unfortunately for a university employee, the Derby is always the first Saturday in May, coinciding with finals week, which makes it almost impossible to travel back home. Even worse, sometimes graduation is on Derby Day itself! A 6 pm post time makes it hard to catch the race.
But not this year ... which means I'm having a Derby Party, one of only two in Boone, NC (burgoo, hot brown, mint julep ...). Click on the thumbnail to see the location of the official Derby Parties in my part of the world. Here is a link to the official Derby Party map.
*Note: No one ever asks me this.
