Gas prices continue their decline for the 4th week in a row, longest stretch since 2020

High Gas Prices
Gas prices have fallen for 14 weeks in a row according to GasBuddy (Photo: WWAY)

WILMINGTON, NC (WWAY) — Average gasoline prices in North Carolina continue to drop, having fallen 12.4 cents per gallon in the last week, averaging $4.30/g today, according to GasBuddy’s survey of 6,092 stations in North Carolina.

Prices in North Carolina are 35.9 cents per gallon lower than a month ago and stand $1.41/g higher than a year ago. According to GasBuddy price reports, the cheapest station in North Carolina was priced at $3.65/g yesterday while the most expensive was $4.89/g, a difference of $1.24/g.The national average price of gasoline has fallen 12.8 cents per gallon in the last week, averaging $4.66/g today. The national average is down 34.4 cents per gallon from a month ago and stands $1.54/g 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.“The national average has declined for 27 days straight, or four weeks, the longest decline in average gas prices since the pandemic started in 2020. Average gas prices are down nearly 40 cents, with Americans shelling out $140 million less on gasoline every day than they did a month ago,” head of petroleum analysis at GasBuddy Patrick De Haan said.

“We may see the trend last a fifth week, as long as oil prices remain cooperative and don’t surge beyond $105 per barrel, and as long as refinery production of gasoline remains strong. But we’re not completely out of the woods yet – we could also see a sharp reversal in the decline. There remains risk of a spike in prices that could send us to new record levels in August, should any disruptions occur. It could be a wild ride, but for now, the plummet at the pump shall continue.”

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