CHARLOTTE – Motorists in the Carolinas experienced another week of decreasing gas pump prices as demand continues to remain low across the country.
“Right now we’re seeing that gas prices are still pushing cheaper in the Carolinas,” said Tiffany Wright, AAA spokesperson. “Prices will more than likely continue to fluctuate throughout the rest of the summer due to COVID-19 concerns.”
North Carolina made the nation’s top 10 largest weekly changes with an average of $1.97, seeing a four-cent decrease on the week. This average is 10 cents cheaper than a month ago and 57 cents cheaper than a year ago. South Carolina made the nation’s top 10 least expensive markets with an average of $1.89, seeing a three-cent decrease on the week. This average is five cents cheaper than a month ago and 53 cents cheaper than a year ago.
Today’s national average is $2.18, one cent more than last month and 56 cents cheaper than last year. As COVID-19 cases surpass 4 million, gasoline demand is weakening across the country and the low demand has contributed to the cheaper national average. This is the first time since late April that the national average has declined.
Domestic crude prices increased due to a slight decrease in the value of a U.S. dollar. However, crude prices could fall this week since total domestic inventories increased by 4.9 million bbl. The increase, amid falling gasoline demand, could mean that the domestic crude market is oversupplied.
Visit https://gasprices.aaa.com/ for details.