CHARLOTTE, N.C. (News Release) — Despite demand mostly increasing this month and reaching its highest measurement – 8.9 million b/d for the week ending April 9 – in more than a year, pump prices in the Carolinas have continued to remain steady, not seeing any changes on the week.
“With refinery utilization almost back to pre-pandemic levels and the lower crude oil prices, motorists have benefited from the steady gas prices lately,” said Tiffany Wright, spokesperson, AAA – The Auto Club Group in the Carolinas. “Crude also started to see some upward movement this week, which could translate to small increases at the pump by the end of the month.”
North Carolina’s current gas price average sits at $2.62, the same as last week’s average. This is 7 cents less than a month ago, but 94 cents more expensive than last year. South Carolina’s current gas price average sits at $2.58, also the same as last week’s. This is 7 cents less than a month ago, but 97 cents more expensive than last year. Both states are still a part of the nation’s top 10 least expensive markets.
Today’s national average is $2.87, seeing little movement and fluctuating up or down by only a penny. While the national average is $1.05 more than last year at this time, it is on par with averages from April 2019.
At 85%, refinery operations are at their fullest capacity since the week of March 23, 2020, according to Energy Information Administration’s data. Should this positive utilization trend continue, it could help to offset increases in demand and help the national average stay under $3/gallon.
Although prices ended the day down, due to the market consolidating pricing contracts, the price of crude gained over $3.80 per barrel last week. Continuing market optimism that crude demand may increase more than expected due to increasing vaccine rollouts helped to lift prices. Additionally, EIA’s weekly report revealed that total domestic crude inventory decreased by 5.9 million bbl to 492.4 million bbl, contributing to price increases. If crude prices continue to rise and remain high, pump prices will likely follow suit.
For updated state and metro prices log on to https://gasprices.aaa.com
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
About AAA – The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America with more than 14 million members across 14 U.S. states, the province of Quebec and two U.S. territories. ACG and its affiliates provide members with roadside assistance, insurance products, banking and financial services, travel offerings and more. ACG belongs to the national AAA federation with more than 62 million members in the United States and Canada. AAA’s mission is to protect and advance freedom of mobility and improve traffic safety. For more information, get the AAA Mobile app, visit AAA.com, and follow us on Facebook, Twitter and LinkedIn.
