Fuel prices continue downward trend, further decreases expected

Published 12:03 pm Monday, December 12, 2022

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Average gasoline prices in North Carolina have fallen 9.8 cents per gallon in the last week, averaging $3.02 per gallon Monday, December 12, 2022, according to GasBuddy’s survey of 6,092 stations in North Carolina. Prices in North Carolina are 36.1 cents per gallon lower than a month ago and stand 8.1 cents per gallon lower than a year ago. The national average price of diesel has fallen 14.9 cents in the last week and stands at $4.91 per gallon.

According to GasBuddy price reports, the cheapest station in North Carolina was priced at $2.59 per gallon Sunday while the most expensive was $4.69 per gallon, a difference of $2.10 per gallon.

The national average price of gasoline has fallen 14.4 cents per gallon in the last week, averaging $3.21 per gallon Monday. The national average is down 56.5 cents per gallon from a month ago and stands 11.0 cents per gallon lower 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:
December 12, 2021: $3.10 per gallon (U.S. average: $3.32 per gallon)
December 12, 2020: $1.97 per gallon (U.S. average: $2.15 per gallon)
December 12, 2019: $2.34 per gallon (U.S. average: $2.58 per gallon)
December 12, 2018: $2.27 per gallon (U.S. average: $2.39 per gallon)
December 12, 2017: $2.32 per gallon (U.S. average: $2.45 per gallon)
December 12, 2016: $2.17 per gallon (U.S. average: $2.21 per gallon)
December 12, 2015: $1.97 per gallon (U.S. average: $2.01 per gallon)
December 12, 2014: $2.58 per gallon (U.S. average: $2.59 per gallon)
December 12, 2013: $3.26 per gallon (U.S. average: $3.24 per gallon)
December 12, 2012: $3.27 per gallon (U.S. average: $3.31 per gallon)

Selected areas around the state and their current gas prices:
Fayetteville – $2.92 per gallon, down 8.6 cents per gallon from last week’s $3.00 per gallon.
Charlotte – $3.05 per gallon, down 9.0 cents per gallon from last week’s $3.14 per gallon.
Greensboro – $2.98 per gallon, down 10.8 cents per gallon from last week’s $3.09 per gallon.

“Not only has the decline in gasoline prices lasted five straight weeks, with again every state seeing a weekly decline in its average, but average diesel prices have fallen in 49 states over the last week as well. The relief is saving Americans roughly $20 per fill-up compared to six months ago,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “On the previously hard-hit West Coast, average prices have fallen nearly $2 per gallon since October. Fifteen states now have average gasoline prices of $2.99 or less, with several more to join this week. We remain on schedule to see the national average gas price fall below $3 by Christmas, with diesel set to fall 50 cents to $1 per gallon over the next six weeks or so. While the Keystone Pipeline shutdown has been getting some attention, motorists need not worry much about the oil-carrying pipeline for now. There is no expected impact to gasoline prices as of now.”

GasBuddy data is accessible at prices.GasBuddy.com.

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