Gas prices are going down in Charlotte. Here’s why there is relief at the pump
Despite inflation still driving high prices for many household goods and services, North Carolinians are seeing some relief at the fuel pump when it comes to gas prices.
Gas prices have been on the decline in the Charlotte area and across the state in recent weeks after months at high levels of more than $4 per gallon. That’s in line with national trends.
Experts say factors including oil prices and the end of the summer travel season are helping to tamp down fuel costs.
Here’s what to know about gas prices in Charlotte and beyond and what to expect in the coming weeks:
Gas prices in Charlotte, North Carolina
The average price for a gallon of regular gas in North Carolina as of Tuesday was $3.41, according to AAA.
But the average in Mecklenburg County was slightly higher, at $3.45. The average for the Charlotte metro area, AAA added, was $3.41.
Check out the averages for each county in the region and the entire state below:
How do NC gas prices compare to national average?
North Carolina’s average gas price currently sits below the national average, which sits at $3.70 as of Tuesday, according to AAA.
But drivers in some neighboring states are faring even better.
South Carolina’s average as of Tuesday was $3.30, per AAA, and Georgia’s was $3.23.
Why are gas prices going down?
Although gas prices are still putting a squeeze on many budgets amid inflation, they are down to their lowest levels in months.
The “primary reason” prices are dropping, AAA says, is lower oil costs.
“This trend has helped pump prices fall steadily for three straight months and, with fall approaching, more markets could soon see prices below $3 per gallon,” AAA spokesman Andrew Gross said in a statement.
“A quiet hurricane season” and “modest” demand for gas as the summer travel season ends have also helped keep prices on the decline, per AAA.
