Up again: North Carolina gas prices continue to rise; national average inches closer to $4.50 per gallon

Published 7:43 am Monday, May 16, 2022

Average gasoline prices in North Carolina have risen again in the last week, averaging $4.23 per gallon Monday, May 16, 2022, according to GasBuddy’s survey of 6,092 stations in North Carolina. Prices in North Carolina are 41.8 cents per gallon higher than a month ago and stand $1.32 per gallon higher than a year ago. The price of diesel has risen 3.0 cents nationally in the past week and stands at $5.55 per gallon.

According to GasBuddy price reports, the cheapest station in North Carolina was priced at $3.59 per gallon Sunday, while the most expensive was $5.19 per gallon, a difference of $1.60 per gallon.

The national average price of gasoline has also risen in the last week, averaging $4.46 per gallon Monday. The national average is up 39.1 cents per gallon from a month ago and stands $1.43 per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

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Historical gasoline prices in North Carolina and the national average going back 10 years:
May 16, 2021: $2.92 per gallon (U.S. Average: $3.03 per gallon)
May 16, 2020: $1.69 per gallon (U.S. Average: $1.87 per gallon)
May 16, 2019: $2.63 per gallon (U.S. Average: $2.86 per gallon)
May 16, 2018: $2.74 per gallon (U.S. Average: $2.90 per gallon)
May 16, 2017: $2.18 per gallon (U.S. Average: $2.33 per gallon)
May 16, 2016: $2.15 per gallon (U.S. Average: $2.22 per gallon)
May 16, 2015: $2.53 per gallon (U.S. Average: $2.70 per gallon)
May 16, 2014: $3.62 per gallon (U.S. Average: $3.65 per gallon)
May 16, 2013: $3.41 per gallon (U.S. Average: $3.60 per gallon)
May 16, 2012: $3.61 per gallon (U.S. Average: $3.73 per gallon)

Selected areas around the state and their current gas prices:
Fayetteville – $4.18 per gallon, up from last week’s $4.07 per gallon.
Charlotte – $4.23 per gallon, unchanged  from last week’s $4.10 per gallon.
Greensboro – $4.22 per gallon, unchanged  from last week’s $4.09 per gallon.

“Those filling their tanks last week saw another jolt at the pump, as both gasoline and diesel prices continued their multi-week rally,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “New records continued to be set on a near daily basis as the national average edges even closer to $4.50 per gallon. Prices later this week could be closer to $5 per gallon than $4, as demand continues to edge higher and inventories of both gasoline and diesel continue to decline, temperatures warm and motorists get back outside and we near the Memorial Day weekend, the start of the summer driving season. While the increases may start to slow in the days ahead as pump prices catch up to oil, there isn’t much reason to be optimistic that we’ll see a plunge any time soon.”

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

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