RALEIGH, N.C. (WNCN) — $3.99 per gallon. It is a welcome relief for most, but for Joe Mabiala it’s still not ideal.
“Yeah, it’s too much,” he said laughing.
Despite the frustration at the pump, he said he’s happier with the dip in prices.
“Yeah, it’s a little bit better if you come to New Bern Avenue. If you want cheap gas, come to New Bern Avenue,” Mabiala mentioned.
Sunny, who helps run the EZ Way Exxon on New Bern Ave. in Raleigh, said it has been a couple of days since their gas prices dropped below $4.
“Customers are very happy and have been very appreciative. They are loving it,” he stated.
According to Gas Buddy, there are several places in Raleigh with gas below $4 a gallon.
“It takes people awhile to get used to [high gas prices]. I think that’s part of the reason why gas prices were very high for a while because people said ‘Oh my I got to do something, I am not sure what.’ And now finally we are adapting to that,” said Connel Fullenkamp.
Fullenkamp is an economist and professor at Duke University. He said more oil being pumped and less panic in the market has also contributed to the lower prices.
However, how long will these lower prices stick around?
“As the war in Russia continues and the sanctions continue to bite, it’s always hard to forecast these prices, but it’s really hard to forecast now because we really don’t know what the energy picture is going to look like especially as we go into the winter,” Fullenkamp explained.
While things may be up in the air, Sonny said he’s hopeful.
“I am man. I’m hoping it stays like that and even goes a little bit lower than that, so everyone has more money,” he said.
Fullenkamp said it’s really too early to say if this is a sign of a recession. He did say this is a sign that we are adjusting high prices.