Charlotte gas prices fall nearly 5 cents over past week

CHARLOTTE, N.C. (WBTV) – The average price of a gallon of regular gas in Charlotte fell 4.6 cents over the previous week, sitting at $3.21 as of Monday, officials said.

That’s according to GasBuddy’s daily survey of 665 stations.

Gas prices in Charlotte are 10.1 cents per gallon higher than a month ago and stand at 88.1 cents per gallon lower than a year ago, GasBuddy analysts said.

The cheapest station in the city is $2.87 per gallon as of March 19 while the most expensive is $3.39 a gallon, a difference of 52.0 cents per gallon.

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

In North Carolina, the average price of a gallon of gas was $3.20, down 5.0 cents from last week’s $3.25 a gallon, according to GasBuddy.

The price of diesel has fallen 5.6 cents nationally in the past week and stands at $4.25 per gallon, analysts said. The national average price of gasoline has dropped 4.2 cents, averaging $3.40 a gallon as of Monday, according to GasBuddy.

“The broad concern over recent failures of the U.S. and global banking system has put enough downward pressure on oil prices that we saw a reprieve in rising gasoline prices in the national average last week. But, it may be temporary in nature, and is unlikely to be a long lasting trend,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While California and areas of the West Coast saw some moderation in price, supply challenges amidst the transition to summer gasoline have led to sharp price increases in Arizona, and other markets saw varying impacts at the gas pump over the last week. Should the outlook for the banking sector improve, we could again see gasoline prices race higher, while continued or additional distress could raise the possibility of a broader economic slowdown, keeping gasoline prices in check. Overall, there are a lot of possibilities.”

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