By Paul T. Choate
Aug. 9, 2012. On July 4 North Carolina gas prices hit a low not seen in almost a year in and a half. At present, however, prices are on the rise again and currently stand at 41 cents higher than the July 4 low point.
The state average was $3.18 per gallon on July 4 and it was the first time prices had dipped below $3.20 per gallon since February of 2011. As of Aug. 9, the North Carolina average is $3.59 per gallon according to AAA’s Daily Fuel Gauge Report.
This increase, though unwelcomed, should not come as a surprise. Though not nearly as dramatic, the exact same thing happened last year. Prices dropped off in July 2011 (to slightly below $3.50 per gallon), spiked heading into autumn (to near $3.70 per gallon), then continued to dip until the first of the year. Motorists can only hope that is the case again, and that this rise is temporary.
Also contributing to the rise is the price of crude oil per barrel. The price at the pumps often mirrors crude oil prices. Only July 4 when the gas prices bottomed out crude oil was sitting at $86.92 per barrel. As of 11 a.m. on Thursday, Aug. 9, it is sitting at $94.04 per barrel.
It is always hard to predict which direction the prices at the pumps are going to go. No matter what happens though, be sure to check out the High Country Press gas price listings every day. We find you the lowest prices in the area so you don’t wind up getting burned at the pump.