NC Gas Prices Continue to Trend Downwards

By Wilson Borntrager Posted August 1, 2014 at 1:26 pm

AAA Carolinas reports that the gas prices in North Carolina are the lowest they have been in more than a month and drivers are paying less this July than the July of last year; this trend is predicted to continue as the summer progresses.

Public Relations Manager at AAA Carolinas, Tiffany Wright, says that the drop in gas prices this past month is certainly impressive, and that this current trend in prices is not going to stop yet.

“Gas prices are trending downward, and that’s something I think is going to continue,” says Wright. “When you look at the fact we’ve seen North Carolina’s average gas price drop 12 cents in a month, I think that’s saying a lot.”

She attributes to the recent decline in prices to a greater reliance on gathering oil within the U.S.

“They’re trending down right now because right now we are producing a ton of oil domestically,” she says. “So, as we rely less on overseas oil and, at the same time on our end, consume less, that results in declining prices at the pump.”

Because of this dependency on oil we have accessed on our own soil, Wright says that gas prices are not being heavily affected by the conflicts going on in the Middle East.

“It’s a little opposite of what you think would be happening right now, everything that’s going on overseas,” says Wright. “Despite that, oil prices are expensive, and they remain expensive, but they’re relatively stable right now because oil production and export levels, they haven’t really noticeably changed that much. So, we really aren’t having to rely that much overseas.”

While the unrest in Russia progresses as well, Wright says she believes that as long as we stick to our oil supply, we will not encounter much difficulty.

“It’s hard to tell,” she says. “As long as we keep producing as much as we’re producing domestically, I don’t think that will be a problem.”

Wright says she expects travel to continue to as usual, and gas prices will continue to fall below less than what they were around this time last year.

“July and August typically are the busiest driving months of the year, but right now gas prices, they’re really in a good position,” says Wright. “For the remainder of what we call the ‘summer driving season,’ gas prices might actually cost less than in recent years this August, just as long as the refinery production continues and remains strong.”

To see the AAA Carolinas gas price chart that compares prices from this year to last year, click here.

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