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Charlotte gas prices see another week-over-week drop

The average price of a gallon of gas in Charlotte fell 1.4 cents per gallon in the past week, averaging $3.15 per gallon on Monday.
Grace prices in Charlotte saw another drop.
Grace prices in Charlotte saw another drop.(KLTV)
Published: Nov. 22, 2021 at 7:16 AM EST
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CHARLOTTE, N.C. (WBTV) – Gas prices in Charlotte continue to fall after months of climbing.

The average price of a gallon of gas in Charlotte fell 1.4 cents per gallon in the past week, averaging $3.15 per gallon on Monday, according to GasBuddy’s daily survey of 665 stations.

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That’s 7 cents cheaper than the previous eight-year high of $3.22 a gallon on Nov. 22, 2013.

Gas prices in Charlotte are 1.2 cents per gallon lower than a month ago and stand at $1.21 per gallon higher than a year ago, GasBuddy analysts said. The cheapest station in the city is $2.29 per gallon as of Nov. 22, while the most expensive is $3.39 a gallon, a difference of $1.10 per gallon.

Check out the Charlotte area’s lowest gas prices here.

In North Carolina, the average price of a gallon of gas was $3.18, down 2.1 cents per gallon from a week ago, according to GasBuddy.

The national average price of gasoline has fallen 1.9 cents per gallon in the last week, averaging $3.39 a gallon Monday, fuel analysts said. The national average is up 2.8 cents per gallon from a month ago and stands $1.30 a gallon higher than a year ago.

“With oil prices plunging nearly $10 from the recent peak of $85 per barrel, motorists will start to see gas prices decline nationwide, just in time for Thanksgiving, and the decline could stretch for several weeks,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “It’s not impossible- so long as oil prices hold near these levels or continue falling- that the national average could shed 15 to 30 cents per gallon over the coming weeks, while some areas like California could see declines of as much as 25 to 40 cents. While there’s reason to be optimistic that the peak of gas prices will soon be behind us, the decline in the price of oil is likely reflecting the possibility of a coordinated global release of oil from strategic reserves. If that doesn’t happen, oil could again rally. However, with Covid cases on the rise again reducing global demand, it does seem the most likely outcome will be a drop in gas prices that could last several weeks.”

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