Gasoline Demand Sets March Record as Carolinians Pay over 25-cents more compared to last March
CHARLOTTE, N.C. (March 20, 2018) – Motorists are paying between 26 and 30 cents more per gallon than they did this time last year throughout the Carolinas. In North Carolina the average price of $2.43 is five cents more than a week ago and more than a quarter (26 cents) higher than this time last year. In South Carolina the average is $2.30, five cents more than a week ago and 29 cents more than last year.
Consumer gasoline demand is at the highest level on record for March according to the Energy Information Administration’s (EIA) latest report.
“As demand has strengthened, gasoline inventories have declined, which has pushed gas price averages anywhere between five and seven cents higher on the week,” said Tiffany Wright, AAA Carolinas spokesperson. “The result, the majority of motorists are seeing more expensive gas prices at the start of this work week.”
Today’s national gas price average of $2.55 is three cents more than a week ago and 26 cents higher than this time last year.
South and Southeast
Motorists are paying more to fill-up on the week in the South and Southeast. Georgia (+6 cents), Texas (+4 cents) and Florida (+4 cents) saw the largest increases in the region. Georgia’s week-over-week increase lands the state on the top 10 states list with the biggest jump in the country.
Despite the increases, the region continues to see some of the cheapest gas in the country. Mississippi ($2.29), Alabama ($2.29), South Carolina ($2.30), Arkansas ($2.31), Texas ($2.32), Louisiana ($2.33) and Oklahoma ($2.34) are among the top 10 states with the least expensive gas prices in the country.
Gasoline inventories dropped on the week yet remain above the 85 million bbl mark. Offline for planned maintenance the past month, Motiva’s Port Arthur, Texas, refinery has brought a processing units back online, which will likely contribute to an increase in inventory in coming weeks.
Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.
AAA Carolinas, an affiliate of the American Automobile Association, is a not-for-profit organization that serves more than 2.1 million member and the public with travel, automobile and insurance services while being an advocate for the safety and security of all travelers.
