Gas prices continue to rise in the Carolinas and across the U.S., and you might notice they differ from station to station.
So how can the price vary by as much as 20 cents at neighboring gas stations? Let's connect the dots.
According to The Association for Convenience & Fuel Retailing, the price of gas is determined by a few things, and it can change from one station to another. First, the price of crude oil accounts for nearly 70% of what you pay at the pump. It changes with supply and demand. You also can't ignore state taxes, which are higher in North Carolina than South Carolina. That's why so many drivers in Charlotte head across the state line to South Carolina for cheaper gas.
Second, distribution. Moving crude oil gets expensive. It goes from the refinery through a pipeline, or across an ocean, onto a truck that moves it to the station. #GasPrices #Oil #WakeUpCLT
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