Gas prices fall to less than $3 per gallon at some outlets in Piedmont Triad

GREENSBORO, N.C. (WGHP) – When last we checked on gasoline prices across the Piedmont Triad, about six weeks ago, you were paying about a quarter per gallon more than you are today and more than 75 cents more than a year ago.

In fact, you can find some outlets with gas at less than $3 for a gallon of regular unleaded gasoline, GasBuddy reported Monday.

GasBuddy says the average price of a gallon of regular unleaded gasoline in the greater Greensboro area is $3.14, down 2.1 cents from last week. AAA has the price at $3.15.

On Jan. 30, those numbers had risen by another 3.3 cents to $3.38, based on GasBuddy’s tracking, and to $3.387, up 4.9 cents from the prior week, AAA reported.

What that means is that prices that had been rising by about 40 cents per gallon in post-holiday surges, from less than $3 per gallon in some places, have declined in the Piedmont Triad.

That decline also was counter to a spring price surge that emerged in statewide and national figures. Gas Buddy’s average price in North Carolina is $3.12, which is up about .3 of a cent higher than last week, and its national average has risen 3.5 cents, to $3.36. The national average price of diesel has fallen 4.6 cents in the past, to $4.34.

AAA has the average price in North Carolina of $3.138., only about .3 of a cent less than a week ago but 15 cents lower than a month ago. Its national average is $3.405.

“The national average rose last week as the transition to summer gasoline has now started across the entire country,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in his weekly release. “The higher cost of these various blends is being passed along to motorists, as we see every year ahead of the summer driving season.

“Some regions are moving to the required summer gasoline in different steps than others, and the fragmentation of required blends absolutely plays a role in these price increases. Logistical challenges in making the transition during a time when refiners are also doing maintenance work can create hotspots and lead to noticeable jumps in prices during the spring.”

Lower prices may not stick

Prices in Greensboro are 13.8 cents per gallon lower than a month ago and 76.5 cents less than a year ago. A Pantry Shop in High Point is charging $2.96, and there are several outlets posting $2.99.

The cheapest prices statewide, as measured by GasBuddy, are $2.64 at a BP in Raleigh and $2.65 at a 76 outlet in Elizabeth City. And best in the Piedmont Triad is $2.85 at the Murphy outlet on South Mebane Oaks Road in Mebane.

A sampling of AAA found the cheapest averages to be in Yadkin County ($3.049), followed by Davidson ($3.076), Forsyth ($3.081) and Wilkes ($3.087).

DeHaan said he is expecting that prices will continue to rise as summer travel season nears. And that old $4 figure could return.

“While we may not see weekly increases, the overall trend will remain upward through much of the spring,” he said. “By Memorial Day, most of the nation will be transitioned to their respective required blend of fuel, and gas prices could ease, but a $4 per gallon national average remains possible by then.”