NC gas price average falls below $2 per gallon; some Wake County areas around $1.65

North Carolina news

RALEIGH, N.C. (WNCN/AP) — Gas prices now average under $2 per gallon in North Carolina as the coronavirus pandemic continues and oil prices fall amid worries producers won’t cut supplies enough to match falling demand.

A month ago, the average price of a regular gallon of gas was $2.29 in North Carolina. Now it’s $1.98, according to AAA Auto Club.

Much of the 31 cent drop was during the last week when prices plunged 12 cents a gallon.

All gas prices include a tax of about 35.4 cents per gallon in North Carolina.

The lowest price for a gallon of gas in North Carolina is $1.29 at the Speed Mart on East 10th Street in Roanoke Rapids, according to GasBuddy.

In Wake Forest and northern Wake County, there were several stations with prices around $1.65 per gallon. However, closer into the city of Raleigh prices hovered just under $2 a gallon on Friday.

“Pump prices continue to decline around the country as oil prices have decreased significantly in response to the increasing public health and economic impact of COVID-19 and the crude price war between Russia and Saudi Arabia,” AAA reported on Friday.

Oil demand has actually increased in the United States, but supply is still high, according to the U.S. Energy Information Administration.

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