GREENSBORO, N.C. (WGHP) – The cheapest gallon of regular unleaded gasoline in North Carolina can be found in Greensboro.

Shannon’s Stop & Shop on West Gate City Boulevard posted $3.12 per gallon as of Sunday, GasBuddy’s survey of fuel outlets showed.

Across the Greensboro market prices fell another 16.5 cents last week, and the average is $3.72 per gallon. That’s a penny per gallon less than the average across North Carolina.

And on Tuesday the average price nationally for a gallon of regular unleaded gas slipped below $4 per gallon for the first time since March, GasBuddy’s survey of fuel outlets found. The better news is that some outlets nationally in low-gas-tax states are starting to show averages below $3 per gallon.

If that sounds like an extremely high per-gallon price – and it is significantly higher than a year ago – realize that it’s about 20% lower than it was just a few weeks ago. The price of diesel also is down to just more than $5 a gallon, GasBuddy says.

By comparison, AAA reports a national average of $4.059 for regular and $5.143 for diesel. For North Carolina those numbers are $3.755 and $5.043.

“The national average is poised to fall back under $4 per gallon as early as today as we see the decline in gas prices enter its eighth straight week,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in his weekly release. “By the end of the week, one hundred thousand stations will be at $3.99 or less. Diesel continues to decline as well and will likely soon fall under $5 per gallon.

“We’ve even seen nearly a dozen stations in low-priced states fall under $2.99, a welcome return to some lucky motorists in areas of Texas, Oklahoma, Kansas and Iowa. The groundwork is laid for a ninth week of decline, with areas of the West Coast soon ditching the $5 per gallon average.”

North Carolina’s prices declined by 13.4 cents last week and in Greensboro they’ve dropped by 58.4 cents in the past month. That’s still 80.8 cents higher than on this date in 2021 and still measurably higher than they were in the post-Great Recession period of 2012.

In Winston-Salem the average is at $3.73, down 16.6 cents, and in Durham, generally the state’s highest prices, the average was $3.99 and down 12.3 cents.

GasBuddy says it updates prices 288 times a day from nearly 150,000 stations nationally. But even though those surveys have been positive lately, there are storm clouds on the horizon – literally. That happens during hurricane season.

While I’m upbeat the drop can continue for another couple weeks, we’re starting to see some activity in the tropics, which may increase risk of potential disruption,” DeHaan said.