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High gasoline prices may get even higher

HUNTSVILLE, Ala. (WHNT) – Gas prices have been slowly rising for months now, and they’re setting new records across the country. Experts say they will likely rise before they get better.

The national average gasoline price topped $5.00 this week, and most local prices are between $4.50 and $4.70.

“It seems like we’ve set a record almost every day for the past few weeks, and that’s not the kind of record we want to set,” AAA spokesman Clay Ingram said.

Ingram said gas prices will likely continue to rise in the near future.

“Our demand is really, really strong,” Ingram said. “Our supply due to the situation in Ukraine is a little tight around the world.”

Less than three percent of US oil is supplied to Russia and Ukraine, according to the US Energy Information Administration. However, the two nations are among the largest oil exporters in the world. The disruption of this supply has pushed up world prices, and this increase is reflected in the United States.

“It just pushes our prices higher and higher,” Ingram said. However, there is good news for Alabamians.

“We’re lucky here in Alabama,” Ingram said. “We are usually one of the lowest prices in the five states in the country at any given time. It’s been like that for many, many years. »

Ingram said proximity to the Gulf of Mexico and major pipelines like the Colonial Pipeline keeps prices low because transportation costs are low. Additionally, the cost of living is relatively low in Alabama, so gasoline prices do not see the markup that occurs in other parts of the country.

Summer is here and you might expect high gas prices to deter people from taking vacations. But Ingram said most vacations still happen, people are just more budget conscious.


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