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Local gas prices jump above 2011 levels
Gas prices in North Carolina are now ahead of where they were at the same time last year, and nearly 40 cents above just a month ago.
GasBuddy.com reports the statewide average price of a gallon of regular unleaded on Wednesday was $3.63.
The average price 12 months ago was $3.60.
Prices reported to the website are averaging $3.89 on Hatteras Island, and $3.68 in the northern beach towns, as well as Manteo, Grandy, and Moyock.
The cheapest prices reported in the area were in Barco, Coinjock, Camden, and Elizabeth City, with an average of $3.58.
AAA Carolinas says the increase can be blamed on an expanding economy increasing demand, predictions of more hurricanes than average and uncertainty over oil supplies in the Middle East.
The national average is $3.69 a gallon, 27 cents above last month.
Other experts say a refinery fire in California and gasoline production problems in Indiana and Illinois this month are also reasons for the jump.
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chaser says:
Got to be the Presidents fault, I praise him when they go down, and cuss him when they go up.
Dare family says:
There is no excuse except that the gas company’s are greedy.
charlie says:
At one point a number of years ago under another administration…guess who? Speculators were allowed into the market…Now they make up a vast majority of the trades….Unfortunatley they get their money from pension funds and mutual funds so we are letting them use our money to screw ourselves…Ain’t American free markets great?
ekim says:
This has nothing to do with GREED!
KHer says:
News Flash from the White House: “It’s Bush’s fault”.
Uncle Jedd says:
Have to stop dependency on foreign countries. It’s time to step up drilling in the USA instead of cutting it!
Dare family says:
It does have to do with greed. They are making there biggest profit ever.
obxer says:
Crazy, Crazy. Soon we will all be sitting home. Driving will be a luxury. The gov must want us to be gov dependent. Seems like everything is going up. Food, gas, electric, basically all our essiential needs. It makes it harder to run a business and harder to survive. How much more can we take.
ekim says:
@ Dare family do you know what it takes to set up an oil rig? do you know the difference, between net profit @ gross profit? Like ciggs, the taxes on fuel is a part of the price hike, Then the crap additives the enviro freaks make us put in it & on & on They dont make the $$$$$ You think they do! OBXER thats just what they want, when the price of fuel goes up anything that is moved with it goes up up up, Its gona get WORSE!
Uncle Jedd says:
The failed energy policies of the current Administration are part to blame. Most of the oil that the US imports comes from Canada and Mexico. We are importing more oil from Saudi Arabia than we have in many years. The Keystone Pipeline could have fixed this, but OH NO says the President.
charlie says:
ekim….What’s the price of a barrell when it is lifted from the ground and sold for the first time? How many times is it bought and sold before it reaches a refinery?
Ask the Saudi’s what they think of the oil market. They say speculators account for 20 to 40% of the price.
Why is the current price at the pump pegged to the current price of the futures market?
Big oil companies have contracts for fuel at set prices and they also play the speculation game. Big banks and brokerages, arbitragers and other slugs play the game also. The only thing that these now “persons” according to the supreme court have in common with the common man is the sin of GREED.
ekim says:
Its time to tell the enviro WAKOS to mve aside so this country can get back on its feet, because this president has us on our KNEES!
Hidin' Sikh says:
There is very little a president can do to influence gasoline prices. Increasing hostilities with nations in oil-producing regions certainly will drive prices up, but the situation with Israel and Iran seems to be stable. A refinery fire in Richmond, California spiked prices in CA. There have been no storms in the Gulf of Mexico.
The Keystone deal will get built, allowing Canadian oil to get to Houston, where it will be shipped to Central America for higher profits. The environmental concerns for routing a pipeline over the largest aquifers with the history of the company in charge are real. They have a solid record of spilling oil.
Corporate profits are what is driving the price up. Welcome to America, and if you don’t like the price, don’t buy the product. Suggest you visit the website of the American Petroleum Institute for a sober discussion of the situation.
Rick says:
The oil from the keystone pipeline will be shipped overseas. Right now, that oil can’t be shipped from the midwest. This glut of oil is actually causing an easing of the price of oil in the US. The price will go up when all that oil goes overseas. The so costly additives consist of grain alcohol. With alcohol in the fuel, additives are not needed to meet pollution laws. There is more drilling going on in the USA now than during Shrub’s term in office.
obxcarl says:
The price of gas where I work in the middle east is 74cents a gal for prem. The price of gas in our little home town is higher because we have added taxes over god knows how many years to pay for things we feel we need. If you can’t afford to drive than don’t. If you can’t afford to live here than don’t. It’s all very simple. If you think gas is going to go down to 1 buck a gal again or even 3 bucks you have your head in the sand. Gas will go up as needed to pay for things as needed. It has nothing to do with who is in office. It’s just the way it is. deal with it. Hell I had to go 7000 miles just to earn a living so I can afford to live in grandy and I still have to do all my shoping in Dare county.