The Sandhills could have NC's cheapest gas after drop in price

Here's some welcomed news: Gas prices across the country are stabilizing.

According to AAA, the average price for a gallon of gas nationwide is $3.88. In the Triangle, the average is about $3.50.

However, some digging tells us some of the cheapest gas in the state is found in the Sandhills.

A drive around shows gas for $3.49 a gallon. This figure is the rule, not the exception.

For the past several months, the price of gasoline has been shocking to people like Anthony Robinson, whose landscaping business is dependent on gas.

"It makes it kind of difficult and it makes it a lot less profitable," Robinson said.

The price of gas appears to be stabilizing across the country, and actually dropping in some places.

According to GasBuddy, the average price of a gallon of gas in Fayetteville is $3.37, down nearly four cents a gallon since last week. The same is true for neighboring counties like Sampson, Bladen and Harnett.

Moshen Souissi is an accounting professor at Fayetteville State University. Souissi said even though Saudi Arabia announced plans to cut oil production and the war in Ukraine rages on, several complicated economic factors around the world are actually driving the price of gasoline down.

"If you look at what's going on in the major economies, like look at the UK is in a mess, the world market is in a mess. Look at the zero COVID policy in china," he said. "Then slowing down, hitting the brakes on economic activities and less demand for gas."

Souissi said inflation and recession are causing people to drive less, making gas cheaper.

And that's great news for people like Robinson as folks are hoping that prices continue to fall.

"I actually told my wife that last night, gas prices were a lot better," Robinson said. "So maybe we can save that money and do some Christmas shopping."

While the price of regular gasoline is stabilizing, experts say diesel and heating oil prices are likely to continue to rise. That's because of extremely low inventories of those types of products.