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Weekly gas price update for North Carolina

North Carolina gas prices have risen 4.7 cents per gallon in the past week, averaging $2.65 per gallon Monday, May 3, according to GasBuddy’s daily survey of 6,092 stations in North Carolina. Gas prices in North Carolina are 5.4 cents per gallon higher than a month ago and stand $1.06 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 $3.19 per gallon, a difference of 80.0 cents per gallon.

The national average price of gasoline has risen 0.7 cents per gallon in the last week, averaging $2.89 per gallon Monday. The national average is up 1.8 cents per gallon from a month ago and stands $1.13 per gallon higher than a year ago.

Historical gasoline prices in North Carolina and the national average going back ten years:
May 3, 2020: $1.59 per gallon (U.S. Average: $1.75 per gallon)
May 3, 2019: $2.71 per gallon (U.S. Average: $2.90 per gallon)
May 3, 2018: $2.68 per gallon (U.S. Average: $2.82 per gallon)
May 3, 2017: $2.24 per gallon (U.S. Average: $2.36 per gallon)
May 3, 2016: $2.16 per gallon (U.S. Average: $2.22 per gallon)
May 3, 2015: $2.46 per gallon (U.S. Average: $2.62 per gallon)
May 3, 2014: $3.65 per gallon (U.S. Average: $3.68 per gallon)
May 3, 2013: $3.42 per gallon (U.S. Average: $3.52 per gallon)
May 3, 2012: $3.75 per gallon (U.S. Average: $3.80 per gallon)
May 3, 2011: $3.85 per gallon (U.S. Average: $3.97 per gallon)

Selected areas around the state and their current gas prices:
Fayetteville – $2.67 per gallon, up 8.0 cents per gallon from last week’s $2.59 per gallon.
Charlotte – $2.63 per gallon, up 0.4 cents per gallon from last week’s $2.63 per gallon.
Greensboro – $2.64 per gallon, up 7.9 cents per gallon from last week’s $2.56 per gallon.

“The nation’s gas prices perked up again last week as oil prices advanced to fresh multi-year highs on Covid improvements overseas and the switch to summer gasoline, which is basically now complete,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Last week saw the national average hit its highest level in two years, and with continued recovery in gasoline demand, the increase in price is likely to continue into the future. Americans may now want to brace themselves for the possibility of a $3 per gallon national average in the weeks ahead, as demand remains strong as Americans take to the roads. The question going forward is how much demand will continue to recover and rise – will it lead to record summer gasoline demand? We indeed may see some weeks with new records as Americans get in their cars this summer – but the question is how many will do so? That will determine how much higher prices will go.”

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

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Weekly gas price update for North Carolina