Gas prices still high, when will they come down?
BIRMINGHAM, Ala. (WBRC) - Now that Colonial Pipeline has restored operations, many people are still wondering when gas prices will go down, and have questions about current availability.
Some gas stations are still without gas following the Colonial Pipeline shutdown. Seven percent of reporting gas stations across the state were out of gas as of 4 p.m. on Monday, but that’s down from the peak of nine percent following the cyberattack.
“Very slow recovery in Alabama,” said Patrick DeHaan, Gas Buddy, “You will still get replenished in Alabama, won’t have to worry about - but spare capacity may send out east to help with other stations.”
Gas Buddy analysts say the extra fuel would go to states like North Carolina. Fifty percent of reporting gas stations there still didn’t have fuel by Monday afternoon.
While there are more places to get gas this week in Alabama, it feels like we’re pouring more of our wallet into our tanks.
“National average reached three dollars a gallon - something we haven’t seen since October 2014,” said DeHaan.
Colonial Pipeline has restored operations and gas analysts expect prices will tick down, but don’t expect it to stay there long.
“Prices went up 12 to 20 cents a gallon, and they should start coming down for the next week. Maybe two weeks,” said DeHaan, “They may not go all the way down because the overall trend for gas prices has been higher.”
Dehaan says people are starting to fill their tanks again on a regular basis because the improvement in the COVID-19 pandemic. Those factors may impact how much prices decline. Gas experts say prices could go down 5-10 cents, maybe 15 cents if we’re lucky, but keep in mind we’re headed into busy summer travel holidays, like Memorial Day, when gas prices typically rise.
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