Quantcast

Old North News

Saturday, November 23, 2024

Average North Carolina driver will spend $17.38 more on gas this October

1edited

The average North Carolina driver will pay $17.38 more at the pump in October 2022 than they did in October 2021, according to an analysis of gas prices from the AAA motor club and Federal Highway Administration (FHA) data by Old North News.

North Carolina drivers will pay an average of $3.31 per gallon of regular gasoline this month versus $3 last year. This is a 10.5 percent increase equaling $0.31 per gallon.

Of the 15 North Carolina metropolitan areas analyzed, drivers in Asheville faced the largest price hike at the pump in the last year of $27.29. New Bern was spared the worst pain, with the price of gas rising $7.97 from October 2021 to October 2022.

Gas prices across the US hit a seven-year high following a significant drop at the beginning of the COVID-19 pandemic.

The price of gas, derived from the cost of oil manufactured around the world, has the power to substantially change the free market and influence many industries.

A short-term outlook report from the US Energy Information Administration predicted gas rates will fall throughout 2022.

North Carolina drivers average 1,339.4 miles and use 55.3 gallons of gasoline per month, according to the FHA.

North Carolina gas price difference - October 2021 vs. October 2022

Market20222021CHG%Total increase
Asheville$3.53$3.03$0.4916.3%$27.29
Charlotte-Gastonia-Rock Hill (NC only)$3.36$2.92$0.4415.0%$24.30
Wilmington$3.40$3.04$0.3612.0%$20.15
Durham-Chapel Hill$3.37$3.04$0.3310.8%$18.26
Hickory-Lenoir-Morganton$3.24$2.94$0.3010.1%$16.38
Norfolk-Virginia Beach-Newport News$3.37$3.09$0.299.3%$15.94
Greensboro$3.28$3.01$0.279.0%$14.94
Raleigh$3.31$3.04$0.278.8%$14.83
Burlington$3.28$3.03$0.258.4%$14
Fayetteville$3.19$2.96$0.237.8%$12.79
Winston-Salem$3.23$3.02$0.216.8%$11.46
Jacksonville$3.18$3$0.196.2%$10.29
Rocky Mount$3.21$3.03$0.186.0%$10.02
Goldsboro$3.21$3.03$0.185.8%$9.69
New Bern$3.19$3.05$0.144.7%$7.97

MORE NEWS