Birmingham Gas Prices Show An Upward Curve

Overview

In Birmingham, the gas prices seem to be increasing, the average price for a gallon of gasoline is recording a high of 5.9 cents over the previous week. This is according to the recent data obtained from a well-known gasoline pricing site, GasBuddy. The survey data amassed from 550 stations around Birmingham specifies an average price of $3.09 per gallon. However, this is 14.3 cents less per gallon compared to the price a month ago and 2.4 cents less per gallon than the price around this time a year ago.

Diverging Prices Across the City

Statistics also reveal that the range of gas prices has also increased significantly. As of yesterday, the gasoline prices varied from $2.83 per gallon at the lower end to $3.39 per gallon at the higher end. Across the state, gas prices varied from $2.73 to $3.99, averaging at $3.06 per gallon.

Other Cities Recording an Increase

Other major cities in Alabama also detected a rise in gasoline prices. The price per gallon of gasoline is currently recorded at $3.08 in Montgomery, pointing to an increase of 0.8 cents in a week’s span. Meanwhile, the average price per gallon in Huntsville is $3.09, which marks an increase of 0.4 cents as compared to last week.

The Future of Gasoline Prices

The national average price of gasoline is reportedly steady compared to the previous week. Some states are experiencing traditional price cycling every couple of weeks. Meanwhile, other states have noticed a slow drop in prices.

On this matter. Patrick De Haan, who leads petroleum analysis at GasBuddy, expressed his observations, “With summer now officially here, we’ve seen the national average price of gasoline holding most steady compared to last week, with some states seeing their traditional price cycling every couple of weeks, while others have seen prices slowly slip.”

Impact of Rising Oil Prices on Gasoline Prices

Contrary to popular belief, rising oil prices are not leading to an equivalent increase in gasoline prices. Instead, the national average of gasoline prices is holding steady, even though oil prices have crossed the $80 per barrel mark. De Haan added, “But the good news is that instead of the national average jumping to follow the rising price of oil, it’s holding steady. The bummer is that the decreases we hoped for will have to wait, thanks to oil’s climb.”