Gas prices continue to fall, but at slightly slower rate

WILMINGTON, NC (WWAY) — Gas prices in North Carolina have dropped for the last 10 straight weeks, but they aren’t going down at the same speed as recent weeks.

Average gasoline prices in North Carolina have fallen 7.0 cents per gallon in the last week, averaging $3.57/g today, according to GasBuddy’s survey of 6,092 stations in North Carolina. Prices in North Carolina are 48.6 cents per gallon lower than a month ago and stand 69.6 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in North Carolina was priced at $3.17/g yesterday while the most expensive was $5.49/g, a difference of $2.32/g. 

The national average price of gasoline has fallen 5.1 cents per gallon in the last week, averaging $3.86/g today. The national average is down 51.3 cents per gallon from a month ago and stands 72.2 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.

“While some areas saw gas prices rise slightly last week, the national average saw yet another weekly decline, extending the streak to ten straight weeks. The pace of declines is certainly slowing down as oil prices have bounced up slightly, but the West Coast and Northeastern U.S. are areas that still may see gas prices decline, while the South and Midwest see the drop fade and potentially slight increases,” Patrick De Haan, head of petroleum analysis at GasBuddy, said. “In addition to falling gasoline prices, the average price of diesel has fallen below $5 per gallon for the first time since March, likely helping to cool off aggressive inflation numbers. Thus far, Mother Nature has spared us from disruptions from hurricanes, but that remains a wildcard as we head into the peak of hurricane season.”