Fuel prices back up slightly, but will it last?

By: Donathan Prater Staff Writer | Opelika Auburn News
Published: January 13, 2009

You read the sign right the first time you drove by. Gas prices are up slightly.
While they’re no where near the $3.06 a gallon average they were a year ago listed on the AlabamaGasPrices.com Web site, Monday’s average price of a gallon of unleaded — $1.67 — was up 10 cents from just a week ago and 15 cents from the state’s lowest average of $1.52 a gallon, AAA Alabama Public Relations and Marketing Manager Clay Ingram said.
“It’s a little disconcerting, but there are several factors as to why fuel prices have increased a bit,” said Ingram, who added he doesn’t foresee fuel prices eclipsing the $4 mark again. “There is the ongoing conflict in the Gaza Strip which might create some economic anxiety in oil-producing regions of the world.”
An increased value of the dollar and a general sense of optimism about the new year’s stock market may also be contributing factors, Ingram said.
“The increase in gas prices seems like a quick reaction by the market, but our demand is still relatively low so prices should come back down a little more before prices go back up some this spring,” he said.
While that might be this spring, owner of The La-Z-Bee convenience store Jamie Lazenby, is closely monitoring fuel prices daily.
“My last load of gas was up about 30 cents a gallon from the the last time,” said Lazenby.
Lazenby said her customers are keeping their eye on any changes in fuel prices, too.
“Gas is about 20 cents more a gallon, but prices are still pretty good right now,” said Beauregard resident Kassi Watts, 18.
As far as gas sales go, Lazenby says her store does well to break even on what it makes from them.
“If we make a profit, it’s not from selling gas, that’s for sure,” said Lazenby.