GREENVILLE, N.C. (Stacker.com) — Fear of an encroaching global recession and lower demand is causing a drop in gas prices, according to analysts. The price for a barrel of oil fell below $70 this week as those concerns have grown.

“We are also in a pre-summer driving season lull regarding domestic demand. These two factors should keep pump prices drifting lower for now,” AAA spokesperson Andrew Gross said in a statement Thursday.

A gallon of gas was $3.56 on average, according to AAA gas price data. Stacker compiled statistics on gas prices in North Carolina. Gas prices are as of May 5.

North Carolina by the numbers
– Current gas price: $3.34
– 1-week change: -$0.08 (-2.4%)
– 1-year change: -$0.64 (-16.0%)
– Record average gas price: $4.67 (6/13/22)

– Current diesel price: $3.92
– 1-week change: -$0.06 (-1.5%)
– 1-year change: -$1.45 (-27.0%)
– Record high average diesel price: $5.77 (6/10/22)

Metros with most expensive gas in North Carolina
#1. Durham-Chapel Hill: $3.49
#2. Raleigh: $3.41
#3. Asheville: $3.38
#4. Burlington: $3.38
#5. Rocky Mount: $3.37
#6. Greensboro: $3.36
#7. Wilmington: $3.34
#8. Jacksonville: $3.33
#9. Winston-Salem: $3.32
#10. Charlotte-Gastonia-Rock Hill (NC only): $3.30
#11. Fayetteville: $3.29
#12. Greenville: $3.26
#13. New Bern: $3.25
#14. Goldsboro: $3.24
#15. Norfolk-Virginia Beach-Newport News: $3.23

States with the most expensive gas
#1. California: $4.83
#2. Hawaii: $4.78
#3. Arizona: $4.70

States with the least expensive gas
#1. Mississippi: $3.04
#2. Texas: $3.10
#3. Louisiana: $3.14