Crude Oil Prices Fall, North Carolina Gas Prices May Not

NORTH CAROLINA — After cresting above $123 per barrel shortly after Russia’s invasion of Ukraine, the price of crude oil has gradually fallen below $110. If this trend holds, it may remove some of the extreme upward price pressure consumers have found at the pump, but not all. The national average price of a gallon of gas hit $4.33 on Friday, March 11, before falling a penny and holding throughout the weekend and Monday at $4.32.

“It bears reminding that the cost of oil accounts for about 50% of what drivers pay at the pump,” said Andrew Gross, AAA spokesperson. “This war is roiling an already tight global oil market and making it hard to determine if we are near a peak for pump prices, or if they keep grinding higher. It all depends on the direction of oil prices.”

Today’s national average for a gallon of gas is $4.32, which is 26 cents more than a week ago, 84 cents more than a month ago, and $1.47 more than a year ago.

North Carolina's gas average is $4.18, Mecklenburg County is $4.20 and Iredell County is $4.16 according to AAA.

To save on gas, you can use GasBuddy to find current gas prices.

Sam's Club in Charlotte is lowest in Mecklenburg County at $3.99.

The Shop N' Save in Mooresville is $3.98 and the cheapest in Iredell County. Sam's Club and Costco in Mooresville is also $3.98.