Charlotte, N.C. (June 27, 2022) – Gas prices in the Carolinas are continuing to decline as motorists are preparing to hit the roads for Independence Day. A drop in the global price of oil helped to drive prices down for a second week.
“Prices at the pump are finally moving in a favorable direction,” said Tiffany Wright, spokesperson, AAA – The Auto Club Group in the Carolinas. “But despite the decline, gas prices are still likely to be the highest in history for the July 4th holiday.”
North Carolina’s current gas price average is now $4.53, having an 8-cent decline on the week. This average is still 18 cents more than a month ago and $1.66 more than a year ago. South Carolina’s current gas price average is now $4.42, having an 11-cent decline on the week. This average is 16 cents more than a month ago and $1.61 more than a year ago.
Today’s national average of $4.89 is nine cents less than a week ago, 30 cents more than a month ago, and $1.80 more than a year ago.
The discount at the pump is due to a recent drop in crude oil and gasoline futures prices, which are largely driven by concerns about the economy, following the Fed’s interest rate hike. The U.S. price of oil declined a total of 11% during the past two weeks.
AAA forecasts that auto travel will set new records this Independence Day, with 151,000 more road trippers than last year. More than 42 million Americans are forecast to drive 50 miles or more during the holiday weekend.
Drivers should expect busy roads during the holiday weekend, particularly during Thursday and Friday afternoons, as commuters leave work early and mix with holiday travelers. Drivers in major U.S. metros could experience double the travel times compared to a normal trip. AAA advises road travelers to leave early and identify alternate routes in case you encounter congestion.
AAA also urges drivers to ensure their vehicle is road trip ready. AAA expects to receive 446,000 calls for roadside assistance during the holiday weekend. Getting a full vehicle inspection could help ensure you are not one of them. Visit AAA.com/AutoRepair to find a certified mechanic.
For updated state and metro prices log on to https://gasprices.aaa.com/
About AAA – The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America with more than 13 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 62 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.