TPI

Alabama gas prices have fallen 2.9 cents per gallon in the past week, averaging $2.34 for regular unleaded Monday, according to GasBuddy’s daily survey of 3,348 stations.

Gas prices in Alabama are 3.8 cents per gallon lower than a month ago and 23.0 cents per gallon lower than a year ago.

According to GasBuddy price reports, gas prices in Alabama on Monday ranged from $2.02 to $2.99. Nationally, the range is $1.97 to $3.12. The national average price of gasoline has fallen 2.6 cents per gallon in the last week, averaging $2.70 Monday. The national average is down 5.6 cents per gallon from a month ago and 15.8 cents per gallon lower than a year ago.

“Gas prices have remained somewhat stable in the last week, falling in most communities across the country,” GasBuddy analyst Patrick DeHaan said. “Oil prices remain under fire over renewed concerns of an economic slowdown in the U.S. as President Donald Trump slapped China with new sanctions, driving the worry.

“There’s a growing threat that gas prices may plunge this fall — perhaps as much as 50 cents per gallon by Thanksgiving — as headwinds have killed off any demand growth and gasoline demand plummets after summer. It appears less and less likely that the trade spat between the world’s two largest economies will cease any time soon and that threat will likely stifle gas prices for the immediate future.”

Historical gasoline prices in Alabama and the national average going back a decade:

• August 5, 2018: $2.57 (U.S. Average: $2.86)

• August 5, 2017: $2.09 (U.S. Average: $2.34)

• August 5, 2016: $1.85 (U.S. Average: $2.12)

• August 5, 2015: $2.25 (U.S. Average: $2.63)

• August 5, 2014: $3.22 (U.S. Average: $3.48)

• August 5, 2013: $3.34 (U.S. Average: $3.60)

• August 5, 2012: $3.38 (U.S. Average: $3.61)

• August 5, 2011: $3.58 (U.S. Average: $3.69)

• August 5, 2010: $2.61 (U.S. Average: $2.75)

• August 5, 2009: $2.43 (U.S. Average: $2.58)