Tagged: Gas Prices

More than two and a half million North Carolinians are expected to travel during the next couple of weeks. AAA expects a two-percent increase in travel this holiday season. Angela Daley, with AAA Carolinas says gas prices are down only slightly from a year ago, but have fallen significantly in the last few months.
 

Angela Daley: "The average price of gas right now in North Carolina is $3.23 and that's down about 62 cents since it peaked in mid-September, so its been falling pretty steadily and it's even down eight cents from where it was before Thanksgiving."

North Carolina's gas tax will increase by 2.5 cents this week. Analysts say that will cost drivers about $20 per year while raising about $150 million for the state's transportation fund. About 60 percent of that money comes from the gas tax. The increase goes into effect Friday, just before the holiday weekend. But Tom Crosby of Triple A Carolinas says it won't stop drivers from hitting the road for Independence Day.

Drivers in North Carolina are paying more for gas than they have in the past two years. Average gasoline prices have topped 3 dollars per gallon according to Triple A. Tom Crosby is with Triple A Carolinas.

"Prices are going up, mostly because of the poor economy, the weak dollar. Our weak dollar is causing investments in Euros in crude oil. Crude oil is selling for over 90 dollars a barrel, which, that’s the first time it’s been that high in two years. When crude oil prices go up, the oil companies raise prices at the pump."