Local News

Gas prices across Triangle expected to continue to drop through Christmas

Posted December 1, 2015 5:53 p.m. EST
Updated December 1, 2015 7:10 p.m. EST

— The average price of gasoline plunged to $2.04 in North Carolina this week - down 2 cents from last week and 64 cents less than residents were paying this time last year.

As prices continue to vary from pump to pump, Willie Foster said he keeps an eye out for the best deal to fill up his luxury sedan.

"I drove 10 miles to come to this station because I drove by the other day and saw the prices were really low," he said.

At a gas station on Martin Luther King Jr. Parkway in Durham, Foster found regular gas for $1.89 a gallon and $2.39 for a gallon of premium.

"When gas prices are high, I never fill my tank all the way up," he said.

Other drivers across the Triangle were experiencing the joys of lower fuel costs, especially as they continue to hit the road for holiday travel.

"It took me like $25 to go back home to (Washington) D.C., and I am a college student, so it is beneficial," Demarre Richardson said.

According to AAA, the average price for a gallon of regular gas in the Triangle metro area is $2.02, down 3 cents in a week and 69 cents less than this time last year.

Driver Tom Eppinger said he is worried the prices will not last long.

"I can't imagine we have not reached a rock bottom on prices," he said. "They are as low as they have been in several years. I imagine, like most things, they are going to start going up again.”

But AAA anticipates the cost of fuel is poised to fall below a $2 average by Christmas. AAA said the reason gas prices are tumbling is because U.S. refineries have, and are making, a lot of supply.

The fall is expected to continue into 2016, according to AAA.