Gas prices are on the rise
The rising price of crude oil is the reason we’re seeing an uptick at the pumps.
BIRMINGHAM, Ala. (WBRC) - If you have filled up lately then you’ve probably noticed prices are going up at the pumps.
In Alabama, gas prices have gone up about 20 cents over the past month according to Gas Buddy analysts. The rising price of crude oil is the reason we’re seeing an uptick at the pumps.
COVID-19 is the reason prices fell dramatically last year because demand dropped.
Patrick De Haan with GasBuddy says with a barrel of crude oil now at its highest level in nearly a year, there’s nowhere for gas prices to go but up.
“Prices are starting to climb and there will be a time here by March that prices this year will cross that threshold and be more expensive that last year as we continue to recover from the pandemic,” De Haan said.
De Haan says an improved outlook for the economy and increase in demand for gas will lead to higher prices.
Right now, gas prices in the Birmingham area are hovering around $2.11 a gallon. Prices are down though about 24 cents from a year ago.
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