Gasoline prices are on the rise

Courtesy photo Gasoline prices in North Carolina have gone up twice as fast as the average across the country over the past week — 4.4 cents per gallon versus 2.2 cents per gallon.

Gasoline prices in North Carolina have risen 4.4 cents per gallon in the past week, averaging $2.73 per /gallon yesterday, according to GasBuddy’s daily survey of 6,092 stations in North Carolina. This compares with the national average that has increased 2.2 cents per gallon versus last week to $2.91 per gallon, according to GasBuddy.

Average gasoline prices on Oct. 8 in North Carolina have ranged widely over the last five years: $2.42/g in 2017; $2.22/g in 2016; $2.14/g in 2015; $3.22/g in 2014; and $3.26/g in 2013.

Including the change locally during the past week, prices yesterday were 30.7 cents per gallon higher than a year ago and are 8.9 cents per gallon higher than a month ago. The national average has increased 6.0 cents per gallon during the last month and stands 43.7 cents per gallon higher than a year ago.

Areas near North Carolina and their current gas price climate:

— Fayetteville: $2.68/g, up 2.5 cents per gallon from last week’s $2.65/g.

— Charlotte: $2.70/g, up 4.1 cents per gallon from last week’s $2.66/g.

— Greensboro: $2.74/g, up 3.4 cents per gallon from last week’s $2.71/g.

“The national average gas price has broken out of a well-established rut, climbing above $2.90 per gallon for the first time since mid-June on rising oil prices ahead of the reinstatement of sanctions against Iran and OPEC failing to pump enough oil to meet robust demand,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “We may see prices continue to lift ahead of the mid-terms, however completely unrelated to the elections, but due to constant threats from an improving economy: higher demand and lower supply is tipping the balance of the oil market and pushing prices higher. We may even soon see $3 per gallon nationally, which would be the first time since October 2014, if oil prices continue to rise.

“I, along with motorists, will be eagerly awaiting any relief at the pump, but don’t hold your breath — it may get worse before it gets better,” he added.

For live fuel price averages, visit http://FuelInsights.GasBuddy.com.

Courtesy photo Gasoline prices in North Carolina have gone up twice as fast as the average across the country over the past week — 4.4 cents per gallon versus 2.2 cents per gallon.
https://www.laurinburgexchange.com/wp-content/uploads/2018/10/web1_gas_pump.jpgCourtesy photo Gasoline prices in North Carolina have gone up twice as fast as the average across the country over the past week — 4.4 cents per gallon versus 2.2 cents per gallon.