Gas prices are falling quickly, hitting a 3-year low in the Charlotte area, according to Gasbuddy.com.
In Fort Mill, SC, Love’s Travel Shop (Exit 83 along Interstate-77) is selling a regular gallon of unleaded gasoline for $1.79 as of Tuesday at 11 a.m.
Charlotte gas prices have fallen 5.4 cents per gallon in the past week, averaging $2.17/g today, according to GasBuddy’s daily survey of 665 stations. Gas prices in Charlotte are 6.1 cents per gallon lower than a month ago and stand 15.9 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Charlotte was priced at $1.94/g as of Monday while the most expensive is $2.49/g.
The national average price of gasoline has fallen 6.3 cents per gallon in the last week, averaging $2.36/g.
“It’s been an unprecedented week, one in which oil majors Russia and Saudi Arabia saw anything but eye-to-eye on lowering oil production, leading crude oil prices to plummet 20% in Sunday evening trade, combined with COVID-19 fears escalating, and gas prices have no where to go but down and like a rock,” said Patrick DeHaan, head of petroleum analysis for GasBuddy, in a statement. “Oil has now seen its value cut nearly in half after Iran tensions inflamed prices months ago and it doesn’t immediately look like it will get any better. For motorists, I urge them to be in absolutely no hurry to fill up as gas prices will drop in nearly every nook and cranny of the country, from the smallest cities to the largest metros, at a time of year that prices are usually rising, we’ll see anything but that. The national average came into March like a lamb and will likely be leaving as a lion, with prices roaring lower.”
The cheapest gas price in Monroe as of Tuesday afternoon, according to GasBuddy, is $2.05/g at Pilot (2700 Chamber Dr. And U.S. 74). The Shell Station in Indian Trail (1701 Chestnut Lane and Potter Road) has gasoline for $1.97/g, reports GasBuddy (as of 8:30 a.m. on Tuesday).