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Gas prices hit plateau in Triad after steady fall

Tuesday, December 23, 2008
(Updated 3:27 pm)

The long, steep decline in gasoline prices has screeched to a halt like Santa's sleigh hitting a rooftop.

After falling for 89 consecutive days, prices in North Carolina have ticked up a penny or two a gallon in the past week.

"It's possible that gas prices are kind of leveling off right now," said Carol Gifford, a public relations official for AAA Carolinas, the Charlotte-based motor club. "There has been some anecdotal evidence that prices are going up .... That's not enough to talk about a trend."

Even so, in Greensboro, a gallon of regular will cost $1.33 less this Christmas than last and about $2.50 less than on Sept. 15, when prices averaged a record $4.10 a gallon.

AAA said Monday holiday gas should average $1.61 in Greensboro and $1.63 statewide.

Gifford said the state average fell as low as $1.62 a gallon last Wednesday.

Prices haven't been this low in nearly five years.

As the cost of a barrel of crude oil continues to decline, gas prices could drop more, but probably not significantly.

"We think prices are going to stabilize, maybe come down a little bit more if crude oil prices don't increase," said Doug MacIntyre, senior oil analyst with the Energy Information Administration in Washington. "We don't see any dramatic declines or increase over the next several weeks."

Oil prices fell below $40 a barrel Monday.

Across the Triad, gas prices continue to vary widely.

The Web site greensborogasprices.com, which covers stations across the region, recorded a low Monday of $1.47 at a Murphy USA station

in Burlington and a high of $1.85 at a Sun station in Ossipee.

Several Greensboro stations posted gas as low as $1.50 Monday and as high as $1.69. The Web site put the average price in the area at $1.61, up nearly 3 cents in the past week.

 

Contact Donald W. Patterson at 373-7027 or don.patterson@news-record.com

 

Accompanying Photos

File photo (News & Record)

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