By Lorrie Ross
Staff Writer
While gasoline prices have dropped slightly in the last few weeks, prices in western North Carolina are still slightly higher than some areas of the state. Most Clay County gas prices were holding at 2.89 per gallon for regular unleaded on Tuesday, Jan. 2. Yet a price comparison at: www.northcarolinagasprices.com shows several locations around the state selling a gallon of regular unleaded for a quarter or more less than the local price.
Some stations in Mount Airy, Lumberton and Cornelius had gasoline at $2.59 per gallon of regular unleaded while New Bern and Hickory stations were selling it for $2.66 or $2.67 per gallon. Even so, several gas stations around the state were shown to have prices over $3 per gallon on Tuesday, including some at 3.39 per gallon in areas of Greensboro, Durham and the Charlotte suburbs. All of these combined brought Tuesday’s average price per gallon of regular unleaded to $2.988 in North Carolina. The nation’s average was $3.049 the same day.
Stacker.com reports the national average is about the same as last year. Decreasing demand and record oil production by the United States have kept gas prices a little lower, the site reported. On Dec. 28, the fuel savings app, Gas Buddy offered potentially good news for drivers with its 2024 Fuel Outlook in a media release out of Dallas. “Expect lower gasoline and diesel prices in 2024,” the press release said. “The outlook highlights key trends in gasoline and diesel prices, forecasting that, after two years of above average gas prices, 2024 will bring relief at the pump for consumers as several factors contribute to less of a pinch at the pump. GasBuddy expects the yearly national average will drop from $3.51 per gallon this year to $3.38 in 2024.” Average prices are for regular unleaded gasoline unless specified otherwise.
Other highlights from the 2024 GasBuddy fuel prediction include:
• Over the winter, gas prices could fall below the $3 per gallon national average. Then they may rise to close to $4 per gallon as summer nears.
• Drivers on the West Coast may see gas prices over $6 per gallon for a short time, but most major cities are expected to peak at around $4 per gallon in 2024.
• Americans will spend $446.9 billion on gasoline together in 2024. The yearly spending per household will fall to an estimated average of $2,407, down two percent from 2023, and more than 12 percent from 2022.
• The 2024 presidential election and electric vehicles could potentially impact fuel prices in 2024, with a possible slowdown of the EV transition.
• The most expensive holiday to buy gas in 2024 will be Memorial Day, with the average price of gasoline nationally expected to be $3.56-$4.04 per gallon for that holiday.
GasBuddy’s Head of Petroleum Analysis said in the press release, “As 2023 fades away, I’m hopeful those $5 and $6 prices for gasoline and diesel will also fade into memory. The global refining picture continues to improve, providing more capacity and peace of mind that record-setting prices will stay away from the pump in 2024. I anticipate that we’ll still have some volatility, unexpected outages and disruptions and potentially weather-related issues, but I do not expect it to lead to record prices. Offsetting OPEC+’s production cuts is contributing to the rise of United States oil production, which now stands at record levels. Combined with Canada, North American oil production could further stabilize countries that have decided to curb oil production.”
Meanwhile, AAA spokesperson Andrew Gross predicted, “Daily gas prices will likely move back and forth for the next month or so.”