GREENSBORO, N.C. — GasBuddy data shows the national average for a gallon of gas costing a record high at $4.51. Greensboro's average cost is $4.28, according to the platform.
To take a closer look at what's causing prices to get so high and share insight into when we could see relief, 2 Wants to Know spoke with GasBuddy's Patrick De Haan.
De Haan said there are many things impacting the supply and demand of gas right now. He listed the Russian invasion of Ukraine as one of the top reasons.
De Haan predicted prices would likely stay high for awhile. He said what happens next may be contingent on the war between Russia and Ukraine because western countries like the United States will keep sanctions on Russian oil, which has strained supply.
GasBuddy data shows big fluctuations from month to month in the cost of gas in Greensboro. Prices sometimes varying as much as about $0.30.
De Haan said there's a lot of volatility in the oil market. He said the price of oil could change drastically over the course of a few days. That means the cost of gas could change frequently.
De Haan it's not as simple as just increasing domestic oil supply. The Russian sanctions have created a massive supply shortage. He said it'd be nearly impossible to fully replace it just by increasing production.
De Haan said he doesn't see North Carolina gas prices getting as high as $5.00/gallon. He said it's not impossible, but it's unlikely.
In the meantime, De Haan said simply slowing down could go a long way toward helping your wallet. He said he drives slower, and it increased his fuel efficiency, which gives him more mileage.