Charlotte, N.C. (December 14, 2020) – U.S. gasoline demand has softened since the beginning of November and has now seen its fourth straight week of declines, keeping pump prices in the Carolinas steady. If you
“Gasoline demand is down 14% – similar to the readings from May when we were locked down and demand was very low,” said Tiffany Wright, spokesperson, AAA – The Auto Club Group in the Carolinas. “The fact is that motorists are filling up less as travel restrictions are reintroduced and the pandemic lingers.”
North Carolina’s average has increased by 1 cent on the week, currently sitting at $1.99 – this is 2 cents more than a month ago and 37 cents cheaper than a year ago. South Carolina’s average has stayed the same, currently still at $1.91 – this is 2 cents more than a month ago and 37 cents cheaper than a year ago.
On the week, the national gas price average held steady at $2.16 – that is 4 cents less than last month and 40 cents cheaper than last year.
The Energy Information Administration’s data shows demand measured at 7.6 million b/d for the week ending December 4, the lowest reading since the end of May. Motorists are not seeing larger declines at the pump likely due to crude oil prices. Regardless, amid low gasoline demand, high gasoline inventory and a resurgence in COVID cases, gas prices are not likely to see large increases.
Although crude prices ended with a loss at the close of Friday’s formal trading session, due to market concerns that demand may dwindle in the coming winter months, prices increased slightly over the previous week amid continued optimism that demand will recover in 2021 as Americans begin receiving COVID vaccines this week. More positive news about Americans receiving the emergency vaccine will likely continue to bolster the domestic price of crude oil this week.
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 14 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 60 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.