Pump Prices Stabilizing in the Carolinas
Tuesday, May 14th, 2019
Gas price averages are down across the Carolinas however, many factors could push them back up in the coming days.
North Carolina’s $2.66 average is four cents less than last week, one cent less than a month ago and four cents less than this time last year. South Carolina’s $2.49 average is four cents less than last week, three cents less than last month and eight cents less than this time last year.
Gas prices are decreasing despite the Energy Information Administration’s (EIA) latest reports which show an increase in demand to summer-like levels and a decrease in gasoline stocks. The move to cheaper gas prices indicates that demand and supply are potentially leveling out.
“Carolinians are enjoying a little relief at the pump today after months of increases but it is too early to tell if this is a trend,” said Tiffany Wright, AAA Carolinas spokesperson. “There are several factors that could push up prices in the coming weeks, including weather, a major move in gasoline stock levels or a spike in demand. The volume of Memorial Day weekend travel could also play a factor in whether pump prices will increase or remain stable in the near future.”