Though the price of crude oil has dipped below $100 per barrel amid negotiations to reopen the Strait of Hormuz, gas prices have continued to rise, according to the American Automobile Association.
As of May 12, the Strait of Hormuz remains closed under Iranian control. The New York Times reported that Tehran’s demands to end the war and reopen the strait include “U.S. war reparations, recognition of its sovereignty over the strait and an end to American sanctions.”
USA TODAY reported on Trump’s comments during a White House event, during which he called the ceasefire “unbelievably weak” and labeled Iran’s latest peace proposal “a piece of garbage” he didn’t bother to finish reading.
According to the U.S. Energy Information Administration, 20 million barrels of oil were transported through the Strait of Hormuz per day in 2024 – about 20% of global petroleum liquids consumption. The EIA also noted that “very few” alternative options exist to move oil out of the strait if it is closed.
Here’s what to know about gas prices in North Carolina as of May 12, as the Strait remains closed.
Are gas prices rising again? When will gas prices go down?
As of May 7, a report from AAA, the national average for a gallon of regular gasoline had risen 25 cents for the second consecutive week. At the time of the report, pump prices were $1.40 higher than they were a year ago, and had reached their highest level since 2022 when the national average peaked at $5.01 per gallon.
The report also noted that, while gas prices continue to face upward pressure, crude oil prices have dipped below $100 per barrel amid negotiations to reopen the Strait of Hormuz.
What is the average price of gas in North Carolina? In the U.S.?
In North Carolina on May 12, the average price for regular gas was $4.145 per gallon. On May 12, the average price of regular gas countrywide was $4.504 per gallon, according to AAA.
What are gas prices like in Asheville, Western NC?
In the Asheville area, the average price for a gallon of regular gas was $4.188 as of May 12, according to AAA. One year ago on the same date, the price was $2.803, about $1.34 lower.
Where are the lowest gas prices in NC? Highest gas prices in NC?
Unlike in previous reports from the Citizen Times, the Asheville area is no longer home to the lowest gas prices in North Carolina. The Fayetteville area, where gas is averaging $4.023 per gallon as of May 12, is home to the new low. In fact, Asheville has climbed several places, now ranking No. 4 for the most expensive gas of 15 N.C. regions listed by AAA.
On May 12, the highest gas prices in the state were located in the Norfolk-Virginia Beach-Newport News area, where the average price for a gallon of gas comes in at $4.254.
How can I save on gas? Best apps for saving money on gas
One popular option for saving on gas as prices rise comes in the form of cashback and gas finder apps. In a previous report, USA TODAY listed several of its top-rated choices:
- Upside: This app remains the “king” of fuel apps for earning actual cash back rather than just points. Simply “claim” an offer in the app before you fill up and pay with your usual card to see rewards—often ranging from $0.11 to $0.25 per gallon—hit your account within days. With a network of nearly 50,000 businesses, it’s the perfect tool for “double-dipping” alongside your favorite gas station’s loyalty program.
- GasBuddy: This app remains the gold standard for real-time price tracking, letting you know exactly what the sign says before you turn the corner. Driven by millions of “GasBuddies” who report local prices daily, the data stays incredibly fresh and reliable. For the biggest wins, watch for “Flash Deals” that can knock up to $0.30 off per gallon, or use the built-in Trip Cost Calculator to map out the cheapest stops for your next road trip.
- Google Maps: This popular app now uses AI-driven “Ask Maps” to help you find the cheapest gas on your route while filtering for extras like clean restrooms or car washes. You can even use its 3D Immersive View to scout station entrances and avoid traffic before you arrive.
- Waze: For a community-driven approach, this app excels at finding hidden gem stations off the main highway, relying on real-time price updates from fellow drivers to ensure accuracy.
What states have the highest gas prices?
As of the May 7 AAA report, the five most expensive gas markets in the U.S. included:
- No. 1 – California ($6.16)
- No. 2 – Washington ($5.76)
- No. 3 – Hawaii ($5.66)
- No. 4 – Oregon ($5.34)
- No. 5 – Nevada ($5.23)
What states have the lowest gas prices?
On the other end of the spectrum, the nation’s least expensive gas can be found in the following states:
- No. 46 – Nebraska ($4.08)
- No. 47 – Arkansas ($4.02)
- No. 48 – Louisiana ($4.02)
- No. 49 – Mississippi ($4.00)
- No. 50 – Oklahoma ($3.98)
Reporting by Iris Seaton, Asheville Citizen Times / Asheville Citizen Times
USA TODAY Network via Reuters Connect
