Gas Prices

1:56 pm
Tue August 27, 2013

Gas Tax Becoming An Unreliable Source Of Revenue

Gas prices in Carrboro from April 2013. The average price for a gallon of regular unleaded is now $3.47
Credit Laura Candler

The state Department of Transportation's main source of revenue will drop sharply over the next decade. 

That's according to the DOT's chief financial officer, who recently told the Board of Transportation that more fuel efficient cars are cutting into state revenue from the gas tax.  That source of funding accounts for 70 percent of the department's budget.  The DOT's CFO, Mark Foster, says growth in revenue from the gas tax depends on more drivers using more gas.

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Business & Economy
5:50 pm
Tue December 18, 2012

AAA Expecting 2.5 Million Travelers This Holiday Season

More than two and a half million North Carolinians are expected to travel during the next couple of weeks. AAA expects a two-percent increase in travel this holiday season. Angela Daley, with AAA Carolinas says gas prices are down only slightly from a year ago, but have fallen significantly in the last few months.

Angela Daley: "The average price of gas right now in North Carolina is $3.23 and that's down about 62 cents since it peaked in mid-September, so its been falling pretty steadily and it's even down eight cents from where it was before Thanksgiving."

Business & Economy
5:10 pm
Wed June 29, 2011

NC Gas Tax Rises as Prices Fall

North Carolina's gas tax will increase by 2.5 cents this week. Analysts say that will cost drivers about $20 per year while raising about $150 million for the state's transportation fund. About 60 percent of that money comes from the gas tax. The increase goes into effect Friday, just before the holiday weekend. But Tom Crosby of Triple A Carolinas says it won't stop drivers from hitting the road for Independence Day.

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Business & Economy
2:00 pm
Thu December 30, 2010

Gas Prices Top 3 Dollars A Gallon

Drivers in North Carolina are paying more for gas than they have in the past two years. Average gasoline prices have topped 3 dollars per gallon according to Triple A. Tom Crosby is with Triple A Carolinas.

"Prices are going up, mostly because of the poor economy, the weak dollar. Our weak dollar is causing investments in Euros in crude oil. Crude oil is selling for over 90 dollars a barrel, which, that’s the first time it’s been that high in two years. When crude oil prices go up, the oil companies raise prices at the pump."

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Business & Economy
9:32 am
Fri September 19, 2008

Love And Gasoline

Leoneda Inge prepared this report on how the year's dramatic rise in gasoline prices has affected personal lives.

Love may make the world go around, but sometimes it may need a little gasoline to keep it going. North Carolina Public Radio asked listeners how the year's dramatic rise in gasoline prices has affected their personal lives.