Gasoline prices are rising again, approaching the record high reached in March.
AAA reports that the new Raleigh-area average gas price is $4.10 a gallon, one of the highest weekly increases the state has seen. That means gas prices in Raleigh are nearly 27 cents higher than a month ago and $1.37 higher than a year ago, AAA reports. Find the cheapest gas in your area.
The Triangle and North Carolina are both priced below the national average, which jumped to $4.33 on Monday.
The national average for diesel is $5.52 per gallon, the highest on record.
On March 11, North Carolina hit the highest gasoline price on record in the state: $4.38.
Gas Buddy said the cheapest gas in Raleigh on Sunday was $3.39 a gallon and the most expensive was $4.99.
AAA reports that between April 28 and May 5, many states saw the largest seven-day increases in their average gas prices. Michigan rose the most, by 30 cents, and gasoline prices in North Carolina rose 16 cents.
Experts say demand is increasing as Memorial Day weekend approaches and oil prices rise. “Petrol and diesel prices saw strong upward momentum last week as oil prices continued to climb after the EU signaled its willingness to sanction Russian oil. U.S. oil inventories have seen another weekly drop as we approach the start of the summer driving season,” said Patrick De Haan, head of oil analysis at GasBuddy.
Here’s a look at how the average gas price in Raleigh has changed over the past 10 years.
- May 9, 2021: $2.73
- May 9, 2020: $1.70
- May 9, 2019: $2.70
- May 9, 2018: $2.70
- May 9, 2017: $2.22
- May 9, 2016: $2.17
- May 9, 2015: $2.50
- May 9, 2014: $3.63
- May 9, 2013: $3.40
- May 9, 2012: $3.67
To sell their handcrafted jewelry, William Jones of Brass Button Studios and his wife plan to drive a Winnebago campervan around 13 cities in 15 weeks.
“I’m going to drive there no matter how expensive the gas is,” Jones said.
Next week, Jones will be in Bristol, Tennessee. He will take a week off and then he will go to Middleburg, Ohio.
“If it’s empty, you’re talking $750 to $800,” Jones said of fueling up his Winnebago. “Before the [rise] gasoline prices, it had fallen to about $450.
The Winnebago runs on unleaded gasoline, Jones said.
“Oh my lord, it was a big hit,” Jones said of the rising gas prices. “I would say our profits are down about 65 percent.”
AAA Carolinas public affairs director Tiffany Wright has several recommendations on how to save gas, including combining errands, trimming excess weight and avoiding idling.
“I don’t think people are going to stop doing roadtrips,” Wright said. “They’ll find other ways to save when we talk about travel, whether it’s food or accommodation.”
Travel Mechanic president Lauren Doyle said she expects higher prices for plane tickets and car rentals.
“People who really want to leave are just going to shell out the money,” Doyle said.
Doyle recommended booking travel in advance for the summer of 2023. She recommended avoiding holidays and booking trips towards the end of summer in August or September.
Rob Handfield, a state professor of supply chain management in North Carolina, said he believes the United States will continue to see high prices.
“The war in Ukraine is likely to continue, unfortunately, for some time, and because of this war, we won’t have excess supplies,” Handfield said.
Wright explained one of the reasons for fluctuating gas prices.
“Other countries decide whether or not to use Russian oil, which creates a very volatile market,” she said.