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Weekly North Carolina gas price update

North Carolina gas prices have risen 8.5 cents per gallon in the past week, averaging $2.66 per gallon Monday, March 15, according to GasBuddy’s daily survey of 6,092 stations in North Carolina. Gas prices in North Carolina are 32.1 cents per gallon higher than a month ago and stand 63.1 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in North Carolina is priced at $2.39 per gallon Monday while the most expensive is $3.09 per gallon, a difference of 70 cents per gallon.

The national average price of gasoline has risen 5.9 cents per gallon in the last week, averaging $2.86 per gallon Monday. The national average is up 33.2 cents per gallon from a month ago and stands 64.0 cents per gallon higher than a year ago.

Historical gasoline prices in North Carolina and the national average going back ten years:
March 15, 2020: $2.03 per gallon (U.S. Average: $2.22 per gallon)
March 15, 2019: $2.45 per gallon (U.S. Average: $2.54 per gallon)
March 15, 2018: $2.39 per gallon (U.S. Average: $2.52 per gallon)
March 15, 2017: $2.17 per gallon (U.S. Average: $2.28 per gallon)
March 15, 2016: $1.86 per gallon (U.S. Average: $1.94 per gallon)
March 15, 2015: $2.32 per gallon (U.S. Average: $2.43 per gallon)
March 15, 2014: $3.38 per gallon (U.S. Average: $3.52 per gallon)
March 15, 2013: $3.69 per gallon (U.S. Average: $3.69 per gallon)
March 15, 2012: $3.77 per gallon (U.S. Average: $3.82 per gallon)
March 15, 2011: $3.54 per gallon (U.S. Average: $3.56 per gallon)

Select areas around the state and their current gas prices:
Fayetteville – $2.69 per gallon, up 13.6 cents per gallon from last week’s $2.56 per gallon.
Charlotte – $2.67 per gallon, up 7.2 cents per gallon from last week’s $2.60 per gallon.
Greensboro – $2.63 per gallon, up 5.7 cents per gallon from last week’s $2.57 per gallon.

“As Americans turn optimistic on COVID-19 pandemic recovery, we’ve been seeing insatiable demand for gasoline, which continues to recover far faster than oil production. According to GasBuddy data, last week’s gasoline demand was just 1% below the pre-pandemic level, an extremely bullish factor likely to continue driving gas and oil prices up in the short term,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The recovery in the last few weeks has been astounding – both the speed and overall volume increases we’ve seen in our data lend credibility to the recovery, and perhaps will lead to continued price increases due to the continued imbalance between supply and demand. It’s no longer a question of if we’ll see gasoline demand return to near normal this year but when, and will oil producers rise to the occasion and be able to quickly ramp up output, or are we going to see the highest summer prices since 2014 until they jump into action? Only time will tell, but it’s looking like things are heating up far more than expected since the start of the year.”

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

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