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Up again: Weekly gas price update for North Carolina

North Carolina gas prices have risen 1.2 cents per gallon in the past week, averaging $2.89 per gallon Monday, July 12, according to GasBuddy’s daily survey of 6,092 stations in North Carolina. Gas prices in North Carolina are 4.3 cents per gallon higher than a month ago and stand 87.9 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in North Carolina is priced at $2.56 per gallon Monday while the most expensive is $3.69 per gallon, a difference of $1.13 per gallon.

The national average price of gasoline has risen 0.5 cents per gallon in the last week, averaging $3.13 per gallon Monday. The national average is up 5.0 cents per gallon from a month ago and stands 93.7 cents per gallon higher than a year ago.

Historical gasoline prices in North Carolina and the national average going back ten years:
July 12, 2020: $2.01 per gallon (U.S. average: $2.19 per gallon)
July 12, 2019: $2.57 per gallon (U.S. average: $2.79 per gallon)
July 12, 2018: $2.70 per gallon (U.S. average: $2.89 per gallon)
July 12, 2017: $2.08 per gallon (U.S. average: $2.25 per gallon)
July 12, 2016: $2.09 per gallon (U.S. average: $2.21 per gallon)
July 12, 2015: $2.62 per gallon (U.S. average: $2.76 per gallon)
July 12, 2014: $3.52 per gallon (U.S. average: $3.62 per gallon)
July 12, 2013: $3.43 per gallon (U.S. average: $3.56 per gallon)
July 12, 2012: $3.24 per gallon (U.S. average: $3.38 per gallon)
July 12, 2011: $3.58 per gallon (U.S. average: $3.63 per gallon)

Select areas around the state and their current gas prices:
Fayetteville – $2.87 per gallon, unchanged from last week’s $2.87 per gallon.
Charlotte – $2.89 per gallon, up 5.6 cents per gallon from last week’s $2.83 per gallon.
Greensboro – $2.89 per gallon, down 0.5 cents per gallon from last week’s $2.89 per gallon.

“While the national average has seen a slight rise over the last week, we may see some stabilization coming to the pump as oil prices hold just under their 2021 peak from last week,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “Without additional crude oil supply coming online in the weeks ahead, we could see oil test $80 per barrel in the next couple of weeks. However, with U.S. gasoline demand falling slightly last week, we may have already seen peak consumption with the July 4 holiday. While the jury isn’t quite in on that just yet, we’re potentially only 4-6 weeks away from gas prices beginning a seasonal decline that we’re likely all eagerly awaiting.”

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

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