Charlotte, N.C. (May 9, 2022) – Motorists in the Carolinas are spending a lot more at the pump as the price of gasoline moves gradually higher. North Carolina’s current gas price average sits at $4.10, having a 16-cent increase on the week. This average is 23 cents more than last month and $1.38 more than last year. South Carolina’s current gas price average sits at $4.02, having a 17-cent increase on the week. This average is 25 cents more than last month and $1.36 more than last year.
“The high cost of crude oil has prices creeping closer to those record highs we experienced in early March,” said Tiffany Wright, spokesperson, AAA – The Auto Club Group in the Carolinas. “Since global supply remains tight and the market remains highly volatile, crude prices will likely continue to fluctuate this week, potentially pushing pump prices even higher ahead of what’s expected to be a busy summer travel season.”
Monday’s national average for a gallon of gas is $4.32, which is 20 cents more than a month ago, and $1.36 more than a year ago.
According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks decreased by 2.2 million bbl last week. However, gasoline demand increased slightly. Increasing gas demand and rising oil prices have pushed pump prices higher. Pump prices will likely face upward pressure as oil prices remain above $105 per barrel.
For updated state and metro prices log on to https://gasprices.aaa.com/