CHARLOTTE, N.C. (STACKER) — Average prices for a gallon of regular gas are flying close to the $4 per gallon mark last seen during the record-setting summer of 2022.
Global supply of oil has been tight since the Organization of the Petroleum Exporting Countries and Russia have cut production. Flooding in Libya is also hurting international oil supplies as ports are blocked from doing business.
Some analysts fear oil prices, and therefore gasoline prices, could go up even higher before the end of this year. Bank of America forecasts oil prices, which sat just below $90 a barrel Monday, could reach $100 per barrel if demand in Asia picks up.
Charlotte by the numbers:
- Gas current price: $3.51
- North Carolina average: $3.48
- Week change: -$0.05 (-1.3%)
- Year change: +$0.18 (+5.5%)
- Historical expensive gas price: $4.63 (6/12/22)
- Diesel current price: $4.36
- Week change: -$0.01 (-0.2%)
- Year change: -$0.35 (-7.5%)
- Historical expensive diesel price: $5.72 (6/10/22)
Metros with the most expensive gas:
- #1. Los Angeles-Long Beach, CA: $6.12
- #2. Orange County, CA: $6.09
- #3. Ventura, CA: $6.08
Metros with the least expensive gas
- #1. Albany, GA: $3.12
- #2. Warner Robins, GA: $3.17
- #3. McAllen-Edinburg-Mission, TX: $3.18