Alabama gas prices have fallen 3.5 cents per gallon in the past week, averaging $2.31 Monday, according to GasBuddy's daily survey of 3,348 stations.
Gas prices in Alabama are 10.2 cents per gallon lower than a month ago and 25.4 cents per gallon lower than a year ago.
According to GasBuddy price reports, prices for regular unleaded in Alabama range from $1.82, which is also the cheapest in the nation, to $2.79. Nationwide, gas is as high as $5.49 per gallon.
The national average price of gasoline has fallen 6.8 cents per gallon in the last week, averaging $2.63 Monday. The national average is down 15.9 cents per gallon from a month ago and 21.7 cents per gallon lower than a year ago.
“The national average price of gasoline has now fallen to the lowest level of the summer but, even better, the lowest since March as gas stations pass along the recent drop in oil prices brought on by the U.S./China trade rift,” GasBuddy analyst Patrick DeHaan said.
“However, the drops in gas prices could slow in the weeks ahead as some OPEC members talk about cutting oil production to stem the recent drop in oil prices. That possibility pushed oil back up $3 per barrel from the lows seen last week. However, a production cut from oil producers may be more akin to putting lipstick on a pig as oil markets have plenty of downside ahead as demand for fuels begins to move lower into the fall with summer driving season ending soon.
The U.S. national average could fall an additional 35 cents per gallon by Thanksgiving even after this week's drop should the trade tensions and geopolitical risks remain the same.”
Historical gasoline prices in Alabama and the national average going back a decade:
• Aug. 12, 2018: $2.56 (U.S. Average: $2.85)
• Aug. 12, 2017: $2.09 (U.S. Average: $2.35)
• Aug. 12, 2016: $1.86 (U.S. Average: $2.12)
• Aug. 12, 2015: $2.20 (U.S. Average: $2.59)
• Aug. 12, 2014: $3.20 (U.S. Average: $3.47)
• Aug. 12, 2013: $3.28 (U.S. Average: $3.53)
• Aug. 12, 2012: $3.47 (U.S. Average: $3.70)
• Aug. 12, 2011: $3.51 (U.S. Average: $3.59)
• Aug. 12, 2010: $2.61 (U.S. Average: $2.76)
• Aug. 12, 2009: $2.48 (U.S. Average: $2.62)