North Carolina gas prices continue to drop, average now $4.01 per gallon

Published 12:03 pm Monday, July 25, 2022

Average gasoline prices in North Carolina have fallen 14.9 cents per gallon in the last week, averaging $4.01 per gallon on Monday, July 25, 2022, according to GasBuddy’s survey of 6,092 stations in North Carolina. Prices in North Carolina are 51.4 cents per gallon lower than a month ago and stand $1.14 per gallon higher than a year ago. The national average price of diesel has declined 13 cents in the last week and stands at $5.41 per gallon.

According to GasBuddy price reports, the cheapest station in North Carolina was priced at $3.48 per gallon Sunday while the most expensive was $4.89 per gallon, a difference of $1.41 per gallon. The lowest price in the state yesterday was $3.48 per gallon while the highest was $4.89 per gallon, a difference of $1.41 per gallon.

The national average price of gasoline has fallen 17.4 cents per gallon in the last week, averaging $4.33 per gallon Monday. The national average is down 56.7 cents per gallon from a month ago and stands $1.19 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:
July 25, 2021: $2.87 per gallon (U.S. Average: $3.14 per gallon)
July 25, 2020: $1.94 per gallon (U.S. Average: $2.18 per gallon)
July 25, 2019: $2.54 per gallon (U.S. Average: $2.74 per gallon)
July 25, 2018: $2.66 per gallon (U.S. Average: $2.85 per gallon)
July 25, 2017: $2.11 per gallon (U.S. Average: $2.28 per gallon)
July 25, 2016: $2.03 per gallon (U.S. Average: $2.15 per gallon)
July 25, 2015: $2.54 per gallon (U.S. Average: $2.72 per gallon)
July 25, 2014: $3.47 per gallon (U.S. Average: $3.54 per gallon)
July 25, 2013: $3.54 per gallon (U.S. Average: $3.65 per gallon)
July 25, 2012: $3.38 per gallon (U.S. Average: $3.48 per gallon)

Selected areas around the state and their current gas prices:
Fayetteville – $3.83 per gallon, down 16.2 cents per gallon from last week’s $3.99 per gallon.
Charlotte – $4.08 per gallon, down 12.1 cents per gallon from last week’s $4.20 per gallon.
Greensboro – $4.02 per gallon, down 13.4 cents per gallon from last week’s $4.15 per gallon.

“Gas prices continue falling coast to coast, with the national average last week declining for the sixth straight week, or 40 days in a row. The national average is now down an astounding 70 cents in that timeframe,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “I have no reason yet to expect the decline won’t reach seven straight weeks, as gas stations still have plenty of room to decline as oil prices remain under $100 per barrel. However, should the tropics become more active, the decline could eventually reverse. In addition, this week we’ll see GDP data for the second quarter, and if it’s better than expected, we may see oil rally, slowing the descent. For now, nine states are seeing average prices under $4 per gallon, a number that will rise this week, with over 40,000 stations under that level, keeping $266 million per day in motorists’ wallets versus mid-June.”

GasBuddy data is accessible at prices.GasBuddy.com.

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