Gasoline prices in North Carolina have decreased by 5.6 cents per gallon over the past week, bringing the average to $2.83 per gallon as of Monday, November 25, 2024. This marks a 7.1-cent drop from one month ago and a 21.3-cent decrease from the same time last year, according to GasBuddy’s survey of 6,092 stations across the state.
The national average price of diesel has also fallen by 1.3 cents, settling at $3.50 per gallon. Meanwhile, the national average price of gasoline dropped by 1.4 cents to $3.01 per gallon, a decline of 11.2 cents from last month and 23.7 cents lower than a year ago, based on GasBuddy’s data compiled from over 11 million weekly price reports from more than 150,000 gas stations nationwide.
In North Carolina, gas prices varied significantly by station. The cheapest station was selling gasoline for $2.30 per gallon, while the most expensive station was charging $3.84 per gallon, a difference of $1.54 per gallon.
Despite recent declines, GasBuddy’s head of petroleum analysis, Patrick De Haan, noted that the national average price of gasoline has yet to reach the anticipated $2.99 per gallon mark. Although 32 states are seeing average prices at or below this threshold, oil price fluctuations, including recent threats from Russia regarding Ukraine, have kept prices from falling further.
“While gas prices are dropping due to some holiday promotions, oil prices remain elevated, preventing a more significant decrease,” De Haan said. “For now, we’re just pennies away from the $2.99 national average, but for the third year in a row, we may miss that target.”
As Thanksgiving approaches, De Haan pointed out that gasoline prices are the lowest they’ve been since 2021, offering a somewhat brighter economic outlook compared to previous years when gas prices were this low.
Historical gas prices in North Carolina and the U.S. for the past 10 years:
November 25, 2023: North Carolina: $3.04, U.S. average: $3.24
November 25, 2022: North Carolina: $3.24, U.S. average: $3.55
November 25, 2021: North Carolina: $3.18, U.S. average: $3.38
November 25, 2020: North Carolina: $1.92, U.S. average: $2.12
November 25, 2019: North Carolina: $2.36, U.S. average: $2.60
November 25, 2018: North Carolina: $2.43, U.S. average: $2.53
November 25, 2017: North Carolina: $2.35, U.S. average: $2.50
November 25, 2016: North Carolina: $2.07, U.S. average: $2.12
November 25, 2015: North Carolina: $2.03, U.S. average: $2.05
November 25, 2014: North Carolina: $2.74, U.S. average: $2.80
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