CHARLOTTE, N.C. (December 27, 2018) – Across the Carolinas, prices have dipped below two dollars in both states. North Carolina’s statewide average of $2.18 is five cents less than a week ago and 25 cents less than this time last month. Pumps are 16 cents cheaper on average in NC than this time last year. South Carolina’s statewide average of $1.96 is also five cents less than last week and 25 cents less than a month ago. South Carolinians are paying 25 cents less to fill up at the pump today than this time last year.
Nearly 20 percent of states are currently enjoying prices below $2.00 per gallon. Nationally, retail averages have dropped 83 of the past 90 days. The national average for regular unleaded gasoline currently sits at $2.30 per gallon, which is six cents less than one week ago, 24 cents less than one month ago and 16 cents less than at the same time last year.
Heading into 2019, gasoline demand is expected to dwindle during the month of January, an expected change following the busy holiday travel season. At the same time, OPEC (Organization of the Petroleum Exporting Countries) will begin production cuts on January 1, with hopes that the shift in global supply will push oil prices higher. The effectiveness of the cuts will likely not be known until later in the first quarter.
“All eyes are on OPEC to kick off the year,” said Tiffany Wright, AAA Carolinas spokesperson. “Many are waiting to see if they stick to their promise to cut crude production by 1.2-million b/d and if the proposed cuts will be enough to restore balance to the market. Cutting production would likely raise prices as supply decreases.”
Over the past few years, OPEC and partnering countries have demonstrated a strong resolve to comply with proposed cuts in production. It is likely that the cartel will reconvene in April, and if there is a need to further balance global supply and demand, OPEC will likely tweak current production numbers at that meeting.
AAA members can now save five-cents/gallon every fill-up, every day at Shell gas stations. Members simply register with their AAA card and will then receive the discount at every fill-up.
Below are prices by region:
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.
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