Prices at the Pump Rise Over 5 Cents in a Week Throughout Asheville Area

Asheville, N.C. – Gas Prices Increase

Prices at the pump have seen a steady rise in the Asheville area, with an average increase of over five cents in the past week, according to GasBuddy’s latest report.

Gas Prices in Asheville

As of Monday, the average price for a gallon of gas in Asheville stood at $3.31, marking a 5.6 cent increase from the previous week. This uptick has pushed prices in the area to be 9.4 cents higher than a month ago, while still remaining 9.9 cents lower compared to the same time last year.

State and National Averages

The national average price for diesel fuel has slightly decreased by 1.2 cents over the past week, settling at $4.01 per gallon. In comparison, the national average price of gasoline has risen by 3.1 cents per gallon, placing it at $3.60 per gallon currently.

Historical Data

Looking back over the past decade, historical gasoline prices in Asheville and the national average show fluctuations. For example, on April 15, 2023, gas prices in Asheville were recorded at $3.41 per gallon, whereas on the same date in 2014, prices were considerably higher at $3.63 per gallon.

Neighboring Areas

Neighboring areas such as Spartanburg, Knoxville, and Greenville have also experienced shifts in gas prices. In Spartanburg, prices have remained unchanged at $3.23 per gallon, while Knoxville has seen a notable increase of 26.2 cents per gallon from the previous week, reaching $3.30 per gallon.

Market Analysis

A recent attack by Iran on Israel raised concerns about potential impacts on oil and gas prices. However, the situation was largely resolved, easing fears of a significant price surge. According to Patrick De Haan, Head of Petroleum Analysis at GasBuddy, the risk to crude oil has diminished following the thwarted attack.

De Haan mentioned, “Motorists in the mid-Atlantic and Northeastern U.S. may soon witness a spike in prices as they transition to summer gasoline, with increases of up to 20-50 cents per gallon in some states. Meanwhile, on the West Coast, price hikes are expected to slow down, though the national average is likely to continue its climb in the coming week.”

Final Thoughts

As gas prices continue to fluctuate, consumers in the Asheville area and across the nation are advised to stay updated on market trends and regional variations. The evolving geopolitical landscape and seasonal changes can influence fuel costs, making it essential for motorists to monitor prices and plan their travel expenses accordingly.