GREENSBORO, N.C. (WGHP) – The price of a gallon of gasoline actually is going down – just in time for the Independence Day weekend – and with the possibility of further improvement.

Travelers on vacation and intending to travel to celebrate the long weekend – July 4th falls on Monday, if you hadn’t noticed, and all government offices will be closed – will be paying nearly 9 cents per gallon less on the average in greater Greensboro than they did a week ago.

That’s the report from GasBuddy.com, which shows prices have declined for two consecutive weeks and are averaging about $4.48 per gallon at 586 outlets tracked across the region. AAA shows the price in Guilford County to be slightly higher, at $4.509 per gallon of unleaded regular gasoline.

GasBuddy reports these average prices across the nation. (GASBUDDY.COM)

AAA predicts that between June 30 and July 4 some 47.9 million people will travel 50 miles or more from home (up 3.7% from last year), and about 42 million will be traveling by car.

“The volume of travelers we expect to see over Independence Day is a definite sign that summer travel is kicking into high gear,” Paula Twidale, senior vice president of AAA Travel, said in a release about the travel forecast. “Earlier this year, we started seeing the demand for travel increase and it’s not tapering off. People are ready for a break and despite things costing more, they are finding ways to still take that much-needed vacation.”

GasBuddy reports that the price in the Greensboro area is about 16 cents less than it was a month ago but still about $1.61 per gallon higher than it was on the same day in 2021. In Winston-Salem, the decline is 8.5 cents to $4.51 per gallon.

This is the fuel prices trend during the past month in North Carolina (GASBUDDY.COM)

The average price in North Carolina is a penny higher – $4.52 (AAA has it at $4.51) – than the Triad but much lower than the national average of $4.88. Diesel fuel nationally rose another 2.6 cents and is at $5.80 per gallon.

GasBuddy’s surveys of more than 150,000 fuel outlets show the national average to have fallen by 8.8 cents but to be up by 28.3 cents per gallon from a month ago.

Another drop to come?

GasBuddy analyst Patrick De Haan.

“With Independence Day a week away, gas prices have continued to fall for the second straight week as the price of oil has faltered, ushering in the drop we’re seeing,” Patrick De Haan, head of petroleum analysis at GasBuddy, said in his weekly market analysis. “The good news is we could also see a third straight week of decline.

“While prices will be at their highest July 4th level ever, they’ll have fallen close to 20 cents since our peak in early June. Motorists should be wary that while the decline could continue for the week ahead, any sudden jolts to supply could quickly cause a turnaround, and risk remains that when the peak of hurricane season arrives, we could see a super spike at the pump.”

The cheapest outlet in Greensboro was $3.99 per gallon, GasBuddy reported, which matched the lowest in North Carolina. The sign on the Valero outlet on Gate City Boulevard, near the Greensboro Coliseum, was touting that figure during the weekend.

The highest price was $4.99 per gallon, with was 50 cents lower than the highest in the state. By comparison, in Durham the average was down 4 cents to $4.61. AAA posted similar trends for the state.

Historical trends

GasBuddy’s historical average gasoline prices for June 27 in Greensboro and the national average going back 10 years:

                    GSO           U.S.

2021:        $2.87        $3.09

2020:        $2.09        $2.17

2019:        $2.47        $2.71

2018:        $2.62        $2.85

2017:        $2.08        $2.24

2016:        $2.20        $2.30

2015:        $2.62        $2.78

2014:        $3.51        $3.68

2013:        $3.38        $3.52

2012:        $3.23        $3.37