US gas prices have fallen below $4 a gallon on average, with Alabama prices at $3.61 a gallon. This is the first time since March that the average cost for a gallon of regular gas has been this low.
Local Impact
In our area, the range extends from $3.53 in Lee County to $4.03 in Wilcox County. The Wilcox County average is the highest in the state, according to motor club AAA.
The drop in gas prices follows a 15% decline in the price of US crude oil prices this month. Oil prices fell to about $73 for a barrel of US benchmark crude.
Even as gas prices start to decline, it is anticipated to take weeks or months for oil to start flowing through the Strait of Hormuz again. Analysts also say ship captains may take their time to decide if passage is safe and that the threat of attack from Iran has truly receded.
Original reporting: Alabama News Network — read the source article.
