Traveling this summer just got more expensive with gas prices now hitting a 3-year high around the Charlotte region.
The price-tracking company ‘GasBuddy’ just released this week’s average gas prices for the Charlotte region, hitting $2.75 for the first time in over 3 years.
“Gas prices saw one of the largest weekly increases since Hurricane Harvey in the last week as oil prices continued to surge, leading to sharply higher prices at the pump, putting the U.S. in peril of striking the $3/gallon level for the first time since 2014,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “Some of the factors at play in the rising prices: President Trump’s withdraws the U.S. from the nuclear deal with Iran and oil supplies that have continued to drop as U.S. exports surpass Venezuela—a surprising feat given Venezuela has the largest proven oil reserves in the world. In addition, as money continues to flow into commodities as bets for higher oil prices rise, there’s a strong chance of seeing crude oil prices continue to rally in the weeks ahead, with the odds of hitting $3/gallon nationally now better than 65% just in time for the summer driving season.”
With prices continuing to climb, Charlotte residents are doing everything they can to save at the pump, including driving to cheaper stations and scheduling fill-ups for the cheapest day of the week.
According to the company, Mondays have consistently proven to be the cheapest, and Thursdays are usually the most expensive.
The company does note that the best day changes year-to-year and state-to-state, but if you were to switch from shopping on Thursdays to Mondays, you could end up saving an average of $325 every year.
When and where do you usually buy your gas?