CHAPEL HILL – North Carolina’s average gas price has dropped 20 cents since last month, making it the lowest price this year.
The average price per gallon in the state is now $3.27, just two cents lower than the average in the triangle area. Angela Daley, Director of Communications at AAA Carolinas, says that the price change is due to the season.
“Well the biggest factor right now is decreased demand,” Daley says. “After the end of the summer driving season, people aren’t taking those trips anymore, and so in September and October we start to see gas prices come down because demand has decreased.”
Not only has summer ended, but the Gulf coast managed to avoid any serious hurricanes, unlike in previous years.
“The other big factor right now is hurricanes,” Daley says. “We haven’t seen a major hurricane hit the Gulf, and so gas prices have really been coming down since Labor Day. That’s the one exception that we sometimes do see gas prices go up during September and we did see that last year.”
AAA Carolina’s expects the price to continue to drop until around Thanksgiving. During heavily traveled holidays the gas prices are likely to stabilize or slightly go up.
The Government shut-down has assisted in lowering gas prices as well since many workers aren’t commuting to jobs. Daley says that depending on how long the government shut-down lasts, prices may continue to drop.
“Right now, the biggest factor that we’re seeing push gas prices is just overall demand down because summer is over,” Daley says. “But, depending on how long the shut-down lasts, it could push gas prices down even further.”
The last time gas was cheaper in North Carolina was December 26 2012 when the average was $3.26. Per gallon, prices are highest in Asheville averaging around $3.36, and lowest in Fayettville at $3.21. North Carolina’s gas prices continue to remain below the national average of $3.35.