Will Charlotte gas prices rise after Russia invasion of Ukraine? Here’s where costs stand

As Russia’s attack on Ukraine unfolds, there are concerns that the conflict could impact already rising fuel costs.

The average gas price in Charlotte is currently $3.48, data from GasBuddy show.

The national average for a gallon of gas has risen to $3.54, up 22 cents from a month ago and 91 cents higher than a year ago, according to AAA.

Because of the ongoing conflict, some experts believe Russia could cut off natural gas exports as retaliation for sanctions that could be levied by the U.S. and its allies.

How conflict could impact North Carolina gas prices

“We have to take into consideration that after the United States and Saudi Arabia, Russia is one of the leading producers of oil globally,” said Tiffany Wright, spokeswoman with Carolina AAA, in a news release. “If they make a decision to withhold their oil from the global market, it would be reflected in even higher gas prices for motorists.”

The North Carolina gas price average now is up 7 cents from last week. This is 31 cents more than a month ago and 94 cents more than a year ago, AAA reported.

Patrick De Haan, the head of petroleum analysis for GasBuddy, said although talks between Iran and other global powers to bring their crude oil supply back to the market are ongoing, the U.S. is weeks away from its traditional spring surge in gas prices caused by the change to summer gasoline, seasonal maintenance at refineries and increasing demand.

Where is the cheapest gas in Charlotte?

• Costco Wholesale, 500 Tyvola Rd - $3.14

• Sam’s Club, 11425 Carolina Place Pkwy. - $3.14

• BJ’s, 11715 Carolina Place Pkwy. - $3.14

• Mobil, 735 Westinghouse Blvd. - $3.15

• Pilot Travel Center, 3807 Statesville Ave. - $3.20

• Murphy USA, 2760 Ashley Rd. - $3.25

• Sam’s Club, 8909 JW Clay Blvd. - $3.27

• Citgo, 2650 West Blvd. - $3.29

• Exxon, 3200 E. Independence Blvd. - $3.29

• Marathon, 9245 Wilkinson Blvd. - $3.32

• Murphy USA, 100 Caldwell Farm Rd. - $3.34

• QuikTrip, 6721 Albemarle Rd. - $3.34

This story was originally published February 24, 2022 at 1:44 PM.

Evan Moore

The Charlotte Observer

Evan Moore is a service journalism reporter for the Charlotte Observer. He grew up in Denver, North Carolina, where he previously worked as a reporter for the Denver Citizen, and is a UNC Charlotte graduate.