Gas prices continue dip in Birmingham area - ABC 33/40 - Birmingham News, Weather, Sports

Gas prices continue dip in Birmingham area

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Birmingham area gas prices have fallen for the second week in a row.  Prices dropped an average of 8.3 cents per gallon last week averaging $3.44 per gallon.  The national average of $3.67 per gallon is down nine cents. 

The bad news, prices are still higher they were one year ago, about 15 cents higher.  The good news, prices are about 14 cents lower than they were in September.  The national average has also dropped approximately 14 cents in the last month, which is very significant.    

"Only one other time in the last few years have we seen the national average drop so

significantly in the course of just a week, and that other time was in May 2011," said Senior Petroleum Analyst Patrick DeHaan. "Looking back at our data, we

only see that prices dropped considerably more in autumn 2008 when the economy slipped into a recession," DeHann said.

The nation is not going through a recession, so this latest drop is significant.

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