Local gas prices on the rise again

Posted July 23, 2012
Updated July 24, 2012

— Gasoline prices are on the rise again.

Average retail prices in Raleigh have risen 7.9 cents per gallon in the past week, averaging $3.38 per gallon as of Sunday, according to the gasoline price website

fuel tracker logo stacked Fuel Tracker: Find lowest gas prices

Nationally, the average that has increased 4.9 cents per gallon in the last week, to $3.48 cents per gallon.

Part of the reason, North Carolina State University economist and professor Mike Walden says, is that drivers drove a little more when prices were lower.

"You're always going to have a rebound from that," he said Monday. "The price will go back up a little bit as people drive more."

But there are several other factors at play, Walden says, including increased tension in the Middle East and the increased cost of ethanol because of a drought in the Midwest, which is affecting the price of corn.

"You can't really figure it out, because it is based on factors largely beyond the control of individual drivers," he said.

Walden says, however, that he doesn't expect the prices to rise to the $4 mark.

Drivers say they're looking for consistency, but that there's not much they can do.

"You just got to deal with it," driver Jordan Kirk said. "I don't know what to do about it."


This story is closed for comments.

Oldest First
View all
  • Half Red Half Blue Jul 24, 2012

    "Gas price the last few months while Bush was in office....4.12 and banking industry crumbling!"

    You would be sadly mistaken on the history of gas prices.

    Check here:

    Sorry Nancy. But this time 4 years ago, it was 4.12 a gallon. Proof:

  • Half Red Half Blue Jul 24, 2012

    When Bush was in office did you same people blame him for the $4.50 a gallon? How is Obama any different?

  • RomneyRyan2012 Jul 24, 2012

    Up 24c in 3 weeks across the street from where I work. Went up 15c this past weekend!!

  • Half Red Half Blue Jul 24, 2012

    ""Thanks Obama! - the price of a gallon of gas when Obama took office... $1.87!"

    Can you tell me what the price of gas was right before Bush left? I give you a clue, it was a dollar higher than it is now.

  • Nancy Jul 24, 2012

    "Gas price the last few months while Bush was in office....4.12 and banking industry crumbling!"

    You would be sadly mistaken on the history of gas prices.

    Check here:

  • Half Red Half Blue Jul 24, 2012

    Go ahead and blame Obama because you have no clue. To say the price of gas going up is his fault, that means he was the one lowering it as well last month. It all rest in his hands, blah blah, blah... It has nothing with supply and demand, world speculations, CEO greed. Just blame Obama right?

  • BubbaDuke Jul 24, 2012

    I guess Obama has given up on being able to win in November and doesn't care how gas prices will affect his votes. When it comes to money out of my pocket, the ones who take the least get my vote.

  • delilahk2000 Jul 24, 2012


  • cwood3 Jul 24, 2012

    Gidder Dun-you might ought to listen to Fox News and learn something. You certainly learn hate and little more from MSNBC or CNN. ABC even tried to tie the gunner in Colorado to a Tea Party member. They had to retract later.

    Concerning gas prices, demand is up some with summer travel. Corn prices are rising because of the draught in the mid west.
    if we were using straight gas instead of ethanol, prices might even be lower.

    Concerning ethanol, it's so stupid to go down this uneducated road. 90% ethanol has a 20+% drop in BTUs. BTUs for those not familiar with the term are a measure of heat generated by a fuel. The higher the BTU level, the more volatile the fuel.
    In gasoline, having less BTUs means less horsepower from our engines as on board computers adjust mixtures and other things so our engines run well-means less performance. Harder working engines means less fuel efficiency. 20+ % less gas mileage.

    Ethanol is horrible for boat engines-causes all kinds of issues.

  • sillywabbitthepatriot Jul 24, 2012

    Geeze Louise, no you need to check your history.

    Even with two wars, the economy crashed thanks to the Dodd, Frank, Pelosi, and Waters housing bubble that Bush tried 17 times to address.