Pain at the pump in NC may not let up for months – CBS17.com

RALEIGH, N.C. (WNCN) Nationwide, gas prices are still higher than they were this same time last year. The pain at the pump is likely to continue in the coming weeks.

The combination of geopolitical tensions at this point, unknown turns in the pandemic, unknown developments has made it extremely challenging to forecast beyond you know, three to six months, said Patrick De Haan, a petroleum analyst for Gas Buddy.

What is for sure is that prices will likely remain high. The average price in the Raleigh area is about $3.20 a gallon this week. Thats 13 cents higher per gallon than a month ago and almost a dollar higher than a year ago, according to Gas Buddy.

Watch the situation unfold with Russia. If if they avoid invading Ukraine, that would be good news. So, too, it would be good news if theres some sort of deal with Iran that allows them to start shipping and selling their crude oil, said De Haan.

If Russia invades and a deal cant be made with Iran, expect anything that relies on transportation to go up, too.

Grocery prices are going up at least in part because of higher fuel prices but things like airlines, and delivery businesses are starting to tack on fuel surcharges. At least when it comes to airlines, ticket prices could go up in the months ahead, said De Haan.

Much of this can be blamed on the pandemic. At its start, people drove less and so oil companies produced less.

Now that demand has come roaring back, its a game of catch up in so many areas of the economy, said De Haan.

When every cent matters, there are a few things you can do to save including easing up on the accelerator and shopping around.

Gas Buddy has reported that certain days of the week may end up saving you a couple of cents per gallon. The company found Sundays, Mondays, and Fridays were the cheapest days to fill up. Thursday is your day to avoid heading to the pump. But the golden rule according to De Haan? Shop around before you fill up.

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Pain at the pump in NC may not let up for months - CBS17.com