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Weekly North Carolina gas price update

North Carolina gas prices have risen 7.4 cents per gallon in the past week, averaging $2.54 per gallon Monday, March 1, according to GasBuddy’s daily survey of 6,092 stations in North Carolina. Gas prices in North Carolina are 26.5 cents per gallon higher than a month ago and stand 31.4 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in North Carolina is priced at $2.05 per gallon Monday while the most expensive is $3.09 per gallon, a difference of $1.04 per gallon.

The national average price of gasoline has risen 7.5 cents per gallon in the last week, averaging $2.72 per gallon Monday. The national average is up 30.3 cents per gallon from a month ago and stands 30.6 cents per gallon higher than a year ago.

Historical gasoline prices in North Carolina and the national average going back ten years:
March 1, 2020: $2.23 per gallon (U.S. Average: $2.41 per gallon)
March 1, 2019: $2.28 per gallon (U.S. Average: $2.42 per gallon)
March 1, 2018: $2.40 per gallon (U.S. Average: $2.54 per gallon)
March 1, 2017: $2.21 per gallon (U.S. Average: $2.32 per gallon)
March 1, 2016: $1.72 per gallon (U.S. Average: $1.76 per gallon)
March 1, 2015: $2.31 per gallon (U.S. Average: $2.42 per gallon)
March 1, 2014: $3.35 per gallon (U.S. Average: $3.45 per gallon)
March 1, 2013: $3.76 per gallon (U.S. Average: $3.77 per gallon)
March 1, 2012: $3.75 per gallon (U.S. Average: $3.74 per gallon)
March 1, 2011: $3.36 per gallon (U.S. Average: $3.37 per gallon)

Selected areas around the state and their current gas prices:
Fayetteville – $2.55 per gallon, up 6.6 cents per gallon from last week’s $2.49 per gallon.
Charlotte – $2.57 per gallon, up 8.8 cents per gallon from last week’s $2.48 per gallon.
Greensboro – $2.56 per gallon, up 6.8 cents per gallon from last week’s $2.49 per gallon.

“Gas prices continued to surge last week following cold weather related shutdowns in Texas, but going forward, the impact from the cold has likely run its course. However, several other factors will rise in their influence on gas prices again, including the fact that gasoline demand continues up steam,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “According to Pay with GasBuddy data, last week’s total gasoline demand soared to the highest level since the pandemic began as COVD-19 cases continue to drop and Americans are filling up more. On the supply side, the number of oil rigs active in the U.S. stands nearly 50% lower than a year ago, which is a large factor driving prices up. To put it simply, demand is recovering much, much faster than oil production levels, which is why oil prices have soared. This week, OPEC will be meeting to hopefully increase oil production to temper the rise in prices, but will they increase oil production enough to match the growing appetite of a global economy that’s seen oil demand jump? We’ll have to wait and see.”

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

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