AAA: Pump prices trend cheaper in Carolinas as demand remains stable

North Carolina

CHARLOTTE, N.C. (WNCT) Gas prices in the Carolinas are seeing a cheaper start to the month of October with averages decreasing by one to two cents as gasoline demand continues to remain stable.

North Carolina’s $2.03 average decreased by one cent on the week.

This is six cents cheaper than last month and 38 cents cheaper than a year ago. South Carolina’s $1.91 average decreased by two cents.

This is seven cents cheaper than a month ago and 38 cents cheaper than a year ago.

At $2.18, the national gas price average is at the cheapest start to the month since 2016.

That average is the same as a week ago, four cents cheaper than the start of this past September and nearly 50 cents cheaper than last year.

The national average held on the week as demand was most stable despite gasoline stocks increasing.

Crude prices dropped dramatically due to market concern about increasing COVID-19 infections worldwide, which could lower crude demand.

The drop in prices occurred despite the Energy Information Administration’s weekly report revealing that total domestic crude inventories decreased by 2 million bbl to 492.4 million bbl.

For this week, crude prices could decline further if demand concerns continue to worry the market.

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 

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

LKQD Outstream

Trending Stories

news-app-download-apple-350x50news-app-download-android-350x50