Charlotte, N.C. (December 28, 2020) – Pump prices in the Carolinas are remaining steady as upward price movement has jumped the national gas price average up to a price not seen since stay-at-home orders were issued in March.
“This month has seen the biggest pump price jump of any month this year,” said Tiffany Wright, spokesperson, AAA – The Auto Club Group in the Carolinas. “Despite low demand, gas prices are trending more expensive because crude oil has seen substantial gains.”
North Carolina’s gas price average currently sits at $2.05, seeing a 1-cent decrease on the week. This is 7 cents more expensive than last month, but 40 cents cheaper than a year ago. South Carolina’s gas price average currently sits at $1.99, not seeing any changes on the week. This is 12 cents more expensive than last month, but 32 cents cheaper than a year ago.
Today’s national average is $2.25 – 3 cents more expensive than last week, 13 cents more expensive than last month, but 32 cents cheaper than last year.
The Energy Information Administration measures weekly gasoline demand at 8 million b/d, up from the previous week, while gasoline stocks decreased about 1 million bbl down to 237 bbl. Typically this combination would result in cheaper gas prices, but with crude oil pricing at the highest levels since February, that is not the case.
Crude prices increased last due to a weak dollar and rising market optimism that COVID vaccines will help crude oil demand recover in 2021. However, as COVID infection rates continue to climb and travel restrictions increase this week, crude price gains could be capped.
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.