Supply, demand, inventory drop North Carolina gas prices
(The Center Square) – Supply, demand and inventory have resulted in gas prices falling in North Carolina ahead of the Labor Day holiday.
The state’s $44.5 billion tourism industry is usually boosted by the weekend. Monday morning’s $3.10 average is a quarter below the national $3.35 norm, according to the American Automobile Association analysis.
The state average is 20 cents better than the July Fourth and Memorial Day holidays.
Regular unleaded gasoline prices, says petroleum analyst Patrick DeHaan of GasBuddy, is like most other goods bought by Americans. General economic principles have the greatest impact on pricing, and automotive fuel also trickles in the blends used in summer and winter.
Only 11 states have lower unleaded gasoline averages as of Monday morning. A month ago, it sold in North Carolina for $3.31 a gallon, and a year ago it was $3.52.
By heat map, fuel is higher toward the beaches known as the Crystal Coast and Outer Banks. Southern beaches counties are among the lowest in the state, with Onslow and Pender below $3 in average, and both New Hanover and Brunswick at $3.01.
On the Crystal Coast, Carteret County averages $3.21. On the Outer Banks, Hyde County is $3.60 and Dare County $3.20. And, bordering Virginia, Currituck County is $3.08.
Of the three major metros, Raleigh and Wake County ($3.22) is higher than Charlotte and Mecklenburg County ($3.14) and Greensboro and Guilford County ($3.12).
Diesel fuel is averaging $3.63 a gallon, a good 15 cents more economical than a month ago. It is 6 cents higher than same last year. Twenty-six states were lower on Monday morning.
North Carolina this year taxes gasoline at 40.4 cents per gallon, up 2 cents from last year and the fifth-highest in the country. States higher are California (57.9); Pennsylvania (57.6); Washington (49.4); and Illinois (45.4).
Among 14 major metro areas, unleaded gas is the least expensive in both New Bern and Goldsboro, each at $2.93. Most expensive is the Durham-Chapel Hill metro area ($3.33).
Diesel is the most consumer-friendly ($3.51) in Hickory-Lenoir-Morganton metro area.
In a state with the ninth-largest population of 10.8 million, roughly 8 million vehicle registrations are combustion engines, either gas or diesel. Total zero-emission vehicles registered is about 100,000, or 1 in 80 on the highways.
