Gas prices in the Charlotte metro area continue to decline, mirroring a national trend and providing further financial relief for local drivers.
As of Tuesday, Charlotte drivers could expect to pay $2.285 for a gallon of unleaded gas on average, according to automobile group AAA. That price is a fraction of a penny cheaper than last week, 1 cent pricier than a month ago and $1.167 cheaper than this time last year.
Gas in North Carolina averaged $2.295 per gallon, up slightly from $2.289 a week ago. South Carolina has the cheapest gas in the country at $2.103 a gallon, which is down from $2.105 a week ago. Nationwide, gas costs $2.414, compared with $2.419 one week ago.
Fuel prices are lower across the U.S. because regional refineries are resuming production after undergoing scheduled maintenance and a transition from winter blend gas, according to a report from AAA. Drivers in 34 states and the District of Columbia are paying less for gas now compared with one week ago.
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Sharply lower oil prices now compared with this time last year have resulted in savings at the gas pump of more than $1 per gallon nationwide. The savings should be a tailwind for the American economy, and many economists anticipate that strong gains in consumer spending will support growth of the overall economy in 2015.