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North Carolina weekly gas update

North Carolina gas prices have fallen 0.5 cents per gallon in the past week, averaging $2.27 per gallon Monday, February 8, according to GasBuddy’s daily survey of 6,092 stations in North Carolina. Gas prices in North Carolina are 9.2 cents per gallon higher than a month ago and stand 5.8 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in North Carolina is priced at $1.99 per gallon Monday while the most expensive is $3.09 per gallon, a difference of $1.10 per gallon.

The national average price of gasoline has risen 3.7 cents per gallon in the last week, averaging $2.45 per gallon Monday. The national average is up 13.2 cents per gallon from a month ago and stands 1.6 cents per gallon higher than a year ago.

Historical gasoline prices in North Carolina and the national average going back ten years:
February 8, 2020: $2.21 per gallon (U.S. Average: $2.43 per gallon)
February 8, 2019: $2.14 per gallon (U.S. Average: $2.29 per gallon)
February 8, 2018: $2.47 per gallon (U.S. Average: $2.59 per gallon)
February 8, 2017: $2.18 per gallon (U.S. Average: $2.26 per gallon)
February 8, 2016: $1.74 per gallon (U.S. Average: $1.73 per gallon)
February 8, 2015: $2.13 per gallon (U.S. Average: $2.17 per gallon)
February 8, 2014: $3.27 per gallon (U.S. Average: $3.26 per gallon)
February 8, 2013: $3.51 per gallon (U.S. Average: $3.57 per gallon)
February 8, 2012: $3.57 per gallon (U.S. Average: $3.48 per gallon)
February 8, 2011: $3.06 per gallon (U.S. Average: $3.11 per gallon)

Select areas around the state and their current gas prices:
Fayetteville – $2.28 per gallon, up 0.4 cents per gallon from last week’s $2.27 per gallon.
Charlotte – $2.29 per gallon, up 3.8 cents per gallon from last week’s $2.25 per gallon.
Greensboro – $2.28 per gallon, down 1.8 cents per gallon from last week’s $2.30 per gallon.

“Many factors continue to push oil prices higher, but at the foundation of the rise is the fact that the coronavirus situation continues to improve, pushing global oil demand higher as production continues to lag, pushing U.S. gas prices higher,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Until OPEC intercedes and raises oil production in the months ahead, motorists should continue to expect rising gas prices, which for the first time some time stand at their highest in over a year, adding misery to the dire economic situation as millions remain jobless. The news won’t likely improve in the months ahead, with continued increases in gas prices as OPEC maintains a tight balance between reduced demand and supply, keeping prices on the higher side.”

GasBuddy data is accessible at http://FuelInsights.GasBuddy.com.

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