RALEIGH, N.C. (WNCN) – Sheetz announced Monday that effective immediately it would drop its gas prices below $4 for the upcoming holiday weekend.
Fuel prices have been lowered to $3.99 a gallon for unleaded 88. Fuel prices for E85 have been lowered to $3.49 a gallon. The discounted rate will stay in place through the July 4 holiday travel season.
Unleaded 88 is approved by the EPA for use in vehicles for model years 2001 or newer as well as light-duty trucks, SUVs and Flex Fuel Vehicles, according to Sheetz. The company said E85 contains more ethanol and is not compatible with all vehicles. It is designed specifically for “flexible fuel vehicles” or FFVs.
The price changes will drop fuel costs below the state and national average. Currently, AAA clocks the average cost for regular gas in North Carolina at $4.56 per gallon. The national average sits at about $4.90.
The cost to fill up has dropped over the last few weeks but not enough for drivers to feel the full relief. According to AAA, the price for gas is about nine cents lower than a week ago but still 30 cents higher than a month ago.
Gas Buddy reports we may see those numbers tumble down even lower over the coming weeks.
“While prices will be at their highest July 4th level ever, they’ll have fallen close to 20 cents since our peak in early June. Motorists should be wary that while the decline could continue for the week ahead, any sudden jolts to supply could quickly cause a turnaround, and risk remains that when the peak of hurricane season arrives, we could see a super spike at the pump,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
This all comes as leaders in Washington struggle over what to do about a federal gas tax. President Joe Biden has called on Congress to implement a temporary suspension of the federal gas tax. The federal tax makes up about 18 cents of the cost you pay at the pump.
Meanwhile in the state, neither Democrats nor Republicans are expressing an interest in suspending the state gas tax. Instead, Democrats are pushing for a $200 gas reimbursement for people who had a North Carolina license as of March.