Gas falls under $4 at some Raleigh stations
After reaching dizzying heights last month, we are starting to see some slight relief at the gas pump.
- Gas prices have fallen for four straight weeks, according to GasBuddy.
The big picture: High gas prices have been one of the biggest drivers of inflation hurting Americans' pockets, Axios' Felix Salmon reports.
The average price of a gallon of gas in North Carolina is $4.15, according to AAA, down 10.2% from $4.62 a month ago.
- The national average on Monday was $4.52 per gallon.
Yes, but: A gallon of gas is still $1.27 higher than last year.
Driving the trend: Oil inventories have been steadily growing "in part because of continuing releases of oil by the government from its strategic oil reserves and reduced consumption," the New York Times reported.
- But gas prices remain in a fragile state, and the downward trend "could easily reverse, especially if a hurricane knocks out a refinery on the Gulf Coast, since global oil supplies remain fairly tight."
Be smart: If you like the hunt, some gas stations in the Triangle are already offering gas below $4 per gallon, per GasBuddy.
More Raleigh stories
No stories could be found
Get a free daily digest of the most important news in your backyard with Axios Raleigh.