North Carolina gas prices drop after weeks of steadily increasing

Published 7:22 am Monday, February 6, 2023

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Average gasoline prices in North Carolina have fallen 7.6 cents per gallon in the last week, averaging $3.28 per gallon Monday, February 6, 2023, according to GasBuddy’s survey of 6,092 stations in North Carolina. Prices in North Carolina are 13.8 cents per gallon higher than a month ago and stand 7.6 cents per gallon higher than a year ago. The national average price of diesel has fallen 5.2 cents in the last week and stands at $4.60 per gallon.

According to GasBuddy price reports, the cheapest station in North Carolina was priced at $2.63 per gallon Sunday while the most expensive was $3.99 per gallon, a difference of $1.36 per gallon.

The national average price of gasoline has fallen 4.4 cents per gallon in the last week, averaging $3.44 per gallon Monday. The national average is up 17.5 cents per gallon from a month ago and stands 1.7 cents 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:
February 6, 2022: $3.20 per gallon (U.S. average: $3.42 per gallon)
February 6, 2021: $2.27 per gallon (U.S. average: $2.46 per gallon)
February 6, 2020: $2.23 per gallon (U.S. average: $2.46 per gallon)
February 6, 2019: $2.14 per gallon (U.S. average: $2.29 per gallon)
February 6, 2018: $2.48 per gallon (U.S. average: $2.61 per gallon)
February 6, 2017: $2.19 per gallon (U.S. average: $2.26 per gallon)
February 6, 2016: $1.75 per gallon (U.S. average: $1.74 per gallon)
February 6, 2015: $2.12 per gallon (U.S. average: $2.16 per gallon)
February 6, 2014: $3.27 per gallon (U.S. average: $3.26 per gallon)
February 6, 2013: $3.50 per gallon (U.S. average: $3.55 per gallon)

Selected areas around the state and their current gas prices:
Fayetteville – $3.24 per gallon, down 6.9 cents per gallon from last week’s $3.31 per gallon.
Charlotte – $3.27 per gallon, down 7.2 cents per gallon from last week’s $3.34 per gallon.
Greensboro – $3.29 per gallon, down 8.4 cents per gallon from last week’s $3.38 per gallon.

“For the first time in 2023, the national average price of gasoline has seen a weekly decline, primarily thanks to a sharp and sudden drop in the price of oil,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While the decline in both gasoline and diesel prices is terrific, it’s not unusual to see prices falling in February, which tends to be the month with some of the lowest gasoline prices of the year thanks to seasonally weak demand. For diesel, we’re likely to see more declines, and potentially much more significant in the weeks ahead as imports of distillate have accelerated, leading to a sell off. And, with warmer weather ahead, demand may struggle as well. However, especially for gasoline, high levels of coming maintenance and the eventual transition to summer gasoline could lead today’s declines to reverse down the road. For now, motorists should enjoy the decline, but be wary as we’re likely to eventually see increases again down the road.”

GasBuddy data is accessible at prices.GasBuddy.com.

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