HUNTSVILLE, Ala. (WHNT) – All drivers are talking about rising gas prices.
AAA Alabama reports prices are up 24 cents from a month ago. The state is now averaging $3.23 per gallon.
“We were just around 2.98-2.99 for 6-8 weeks, something like that,” said Clay Ingram with AAA Alabama. “But in the last month, we’ve seen it jump 24 cents a gallon right here in Alabama.”
Ingram says the price hike can be attributed to several different factors. One of them being the speculation around an increase in the number of travellers.
Last year, travel was approaching pre-pandemic levels. Now experts predict even more drivers for the upcoming summer season.
“Investors around the world are buying crude oil futures in anticipation of this, and that in itself is driving up crude oil prices,” Ingram said. When this happens, all gas prices jump.
Another factor in price increases is simple supply and demand. Ingram says the situation in Russia and Ukraine may be a small factor, but has yet to have a major impact.
In the meantime, AAA Alabama expects prices to continue rising this summer, but our state won’t see anything near $4.00 a gallon.
While our gas prices average around $3.20, Alabama is still below the national average. This price is around $3.50.
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