With the Strait of Hormuz now back under Iranian control, Alabamians are asking whether gas prices will continue to rise.
With the Strait of Hormuz now back under Iran ian control, Alabamians are asking whether gas prices will continue to rise. On Saturday, April 18th, the average price for a gallon of gas in Alabama was $3.78, down almost 10 cents from a week ago, according to AAA .
The longer the strait stays closed, hundreds of millions of barrels of oil remain stuck, unable to reach the global market. FILE -- A UAE navy ship sails next to a cargo ship in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates in March 2026.
UAB economics professor Dr. Ben Meadows says the U.S. is the number one oil exporter in the world, but that doesn’t help American consumers. Oil is a global commodity, meaning a crimp in supply anywhere raises prices everywhere. Meadows said even when a deal is reached and the strait fully reopens, prices will not drop overnight. “Up like a rocket, down like a feather,” Meadows said. “Basically, as costs increase for something like oil, that gets passed on to the derivatives, which are petroleum products, which is gasoline. But sellers are a little hesitant to bring prices back down. And so prices tend to stay a little inflated on the way down.”
Meadows said until there is a lasting agreement, not just a day-to-day ceasefire, markets will stay cautious. For consumers, that means slow relief.Former teacher pleads guilty to improper sexual relationship with 2 teen boys‘Demonic’ attack on Theodore family included sexual assault, Mobile County DA saysFairhope Volunteer Fire Department’s annual open house showcases construction progress on new training center
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