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North Carolina has the lowest gas prices in the country. Some say it's still too high
WRAL • • business
Key Points:
- North Carolina now has the lowest average gas prices in the U.S. following a recent suspension of the state gas tax, with unleaded gas in Raleigh averaging $3.62 per gallon, down nearly 35 cents from a week ago.
- Despite the price drop, many residents remain dissatisfied, citing that current prices are still high compared to last year when gas was $2.78 per gallon and diesel was $3.52.
- The high fuel costs are impacting various groups, including commuters and farmers, with diesel prices straining agricultural operations and increasing produce costs.
- The delay in price reductions after the tax suspension is attributed to gas stations selling off previously taxed fuel before buying tax-exempt fuel, and fluctuating oil prices influenced by geopolitical tensions, particularly involving Iran and Russia-Ukraine conflicts.
- The gas tax suspension is temporary and scheduled to resume on December 1, meaning fuel prices may rise again depending on market and geopolitical developments.
