Pump prices continue decline

Published 11:56 am Wednesday, May 30, 2012

Average retail gasoline prices in North Carolina have fallen 6.0 cents per gallon in the past week, averaging $3.47 per gallon as of Sunday, May 27.

This compares with the national average that has fallen 3.6 cents per gallon in the last week to $3.65/g, according to gasoline price website NorthCarolinaGasPrices.com.

Including the change in gas prices in North Carolina during the past week, prices on Sunday were 20.7 cents per gallon lower than the same day one year ago and are 31.0 cents per gallon lower than a month ago. The national average has decreased 15.7 cents per gallon during the last month and stands 13.4 cents per gallon lower than this day one year ago.

As of Wednesday morning, pump prices in the Ahoskie market were at $3.55 per gallon. Meanwhile, prices had dropped significantly in the Greenville market ($3.33 per gallon) and Washington market ($3.25).

“Summer driving season has officially begun with the national average falling far lower than we expected it earlier this year,” said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. “The national average has dropped to a surprising $3.65/gal mark as of today. Had you asked me back in January if the national average would have been that low on Memorial Day, I would likely have chuckled, but it goes to show anything is possible.” GasBuddy forecast back in January that the national average would peak between $3.75-$4.15/gal. The national average peaked at $3.92/gal on April 5, far sooner than many analysts, including DeHaan, expected it to occur.


About NorthCarolinaGasPrices.com

GasBuddy operates NorthCarolinaGasPrices.com and over 250 similar websites that track gasoline prices at over 140,000 gasoline stations in the United States and Canada. In addition, GasBuddy offers a free smartphone app which has been downloaded over 20 million times to help motorists find gasoline prices in their area.