NC gas prices continue to rise, up 16.2 cents in last week

High Gas Prices
Gas prices have risen 16.2 cents in the last week (Photo: WWAY)

WILMINGTON, NC (WWAY) — Gas prices across North Carolina are continuing to soar.

Average prices have risen 16.2 cents per gallon in the last week, averaging $3.30 per gallon.

Prices in North Carolina are 41.8 cents per gallon higher than a month ago and stand 19.8 cents per gallon higher than a year ago. According to GasBuddy price reports, the cheapest station in North Carolina was priced at $2.70 per gallon Sunday while the most expensive was $4.69 a gallon, a difference of $1.99. “Gasoline prices continued their upward trajectory last week as oil prices pulled them higher across the majority of the country, and continued refinery challenges kept supply of gasoline from rising more substantially,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn’t been slowed much by a surge in new Covid cases. In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn’t look good for motorists, with prices likely to continue accelerating.”

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