RALEIGH, N.C. (WNCN) – AAA said the average price for fuel has dropped 15 cents in the last week. The national average for fuel now sits at $4.52.
In North Carolina, the average price for gas is $4.18 per gallon – down 14 cents from a week ago.
AAA credits the cost per barrel of oil and driver demand for the decrease.
“Here at home, people are fueling up less, despite this being the height of the traditional summer driving season. These two key factors are behind the recent drop in pump prices,” said AAA spokesperson Andrew Gross.
The current cost per barrel of oil is in the mid-$90s. Compare that to a cost of $110 per barrel two weeks ago.
Data from the Energy Information Administration shows demand went from 9.41 million barrels per day to 8 million barrels per day last week.
“As these supply/demand dynamics hold, drivers will likely continue to see price relief at the pump,” AAA said.
While the price per gallon in North Carolina is still $1.27 higher than a year ago, the state boasts some of the lowest fuel costs in the country.
It is the ninth least expensive market for fuel in the country.
The top 10 least expensive states for gas are:
- South Carolina: $4.02/g
- Texas: $4.03/g
- Georgia: $4.03/g
- Mississippi: $4.04/g
- Louisiana: $4.07/g
- Alabama: $4.09/g
- Tennessee: $4.10/g
- Arkansas: $4.11/g
- North Carolina: $4.17/g
- Kentucky: $4.18/g