North Carolina Gas Prices are Decreasing, but Food Prices Remain High

Veronica Charnell Media
Photo Courtesy of WTVQWTVQ

Gas Prices continue to fall for the fifth week straight

According to AAA, as of Monday morning, the average price for a gallon of gas in North Carolina sits at $4.17. As of Tuesday afternoon, North Carolina's average is $4.155. That is a big decrease from $4.31 last week and 46 cents lower than a month ago. One gas station in Eastern North Carolina posted at $3.80 a gallon.

The national average price of gasoline has fallen 15 cents per gallon in the last week, averaging $4.52/g yesterday. Today the national average is $4.495 as of 07/19/2022. “We’ve seen the national average price of gasoline declined for a fifth straight week, and it is declining at an accelerating rate. This trend is likely to reach a sixth straight week, with prices likely to fall again this week,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “

Are we still in the middle of an Inflation Session?

With Gas prices decreasing across the United States why are we still seeing high food prices at the grocery store? High prices continue to frustrate consumers at the grocery store as record levels of inflation persist.

Food prices have risen 10.4% from June 2021 to June 2022, according to the most recent Consumer Price Index report from the Bureau of Labor Statistics.

Currently, every single food item is now more expensive than it was a year ago. Cereal, for example, was 15% more expensive in June than a year ago. Even the price for 18 Dozen of eggs at Walmart is now $4.98 compared to a year ago which costs $1.89. Have you noticed the candy bars at Walmart used to be 97 cents, those same candy bars are $1.14 at Walmart. Experts say it is Global and Domestic issues that are causing food prices to soar.

There are several factors we have to consider that are causing Food Prices to remain high:

  1. The Pandemic Disrupt the entire world all at once. The reality is no one was prepared for the Coronavirus Pandemic, not even the Federal Government. The pandemic has disrupted nearly every part of the food supply chain, including production, processing, and retail. The after-effects of this are still being felt today. Lockdowns are being reinstated in regions around Shanghai, home to one of the largest ports in the world. This could again disrupt the country’s exporting capabilities, further disrupting our global supply chain.
  2. In the early days of the war in Ukraine, analysts speculated that food prices were bound to be affected. Did you know Russia and Ukraine are some of the largest producers of wheat in the world, accounting for 30% of all wheat exports combined. With Ukraine unable to fulfil its role as a wheat producer. The world is currently facing a wheat shortage.

Quick Tips on How to Save in an Inflation:

If you have not considered couponing last year, now may be the time to start. Some of the large grocery chains have apps that allow you to add the coupons to your account and redeem them at checkout.

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Entertainment & Lifestyle Journalist who loves to produce quality content in Entertainment, Lifestyle, Wellness & Business. Also, I write about the Government Sector. On IG: @iam_ladyveronica Twitter: @Lady_Divine_4

Greenville, NC

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