Gas prices in midst of two-week decline throughout Carolinas

Press release:

GAS PRICES IN MIDST OF TWO-WEEK DECLINE THROUGHOUT CAROLINAS

CHARLOTTE, N.C. (MAY 3, 2017) – Gas prices have dropped for two consecutive weeks in the Carolinas, according to AAA. Today, North Carolina’s average price for a gallon of regular unleaded gasoline is $2.25, a four cent drop from one week ago. South Carolina’s current average is $2.08, a three cent drop from last week.

A year ago, the country was experiencing higher demand and prices were increasing. North Carolina’s statewide average was $2.17, while South Carolina averaged $2.02.

While Carolinians are still experiencing higher gas prices than last year due to the OPEC agreement, motorists are not seeing substantial increases at the pump due to increased gasoline inventories and low demand.

“A big reason for the steady decline in prices at the pump this year is that supply has outpaced demand,” said Tiffany Wright AAA spokeswoman. “Refineries have finished spring maintenance season which has increased production levels, so hopefully prices should fall a few more cents in the next several days.”

The most expensive North Carolina gas prices are in Asheville ($2.35), Raleigh-Durham-Chapel Hill ($2.26) and Greensboro-Winston Salem-High Point ($2.25). The least expensive prices are in Wilmington ($2.22), Fayetteville ($2.22) and Charlotte ($2.24).

The most costly pump prices in South Carolina are in Charleston ($2.13) and Myrtle Beach ($2.08). The least expensive metro areas belong to Greenville-Spartanburg-Anderson ($2.02) and Columbia ($2.06)

Both North and South Carolina are below the national average of $2.37. Nationally, prices at the pump have dropped for the first time in three weeks.

AAA Carolinas, an affiliate of the American Automobile Association, is a not-for-profit organization that serves more than 2 million members and the public with travel, automobile and insurance services while being an advocate for the safety and security of all travelers.