CHARLOTTE, N.C. (July 20, 2020) – Gas prices pushed downward three cents at most in the Carolinas, as the liability for prices to change rapidly and unpredictably is deemed low.
“Gasoline demand has been consistent for the last month or so but gasoline stocks have declined,” said Tiffany Wright, AAA spokesperson. “Week by week we are continuing to see pump prices fluctuate based on supply and demand.”
North Carolina was one of three states to see the largest swing at the pump with an average of $2.01 – a three cent decrease on the week, a three cent increase on the month, and 56 cents less than a year ago. South Carolina’s average sits at $1.92 – a two cent decrease on the week, a six cent increase on the month, and 54 cents less than a year ago.
The national average held steady on the week at $2.19 as only 10 states saw pump prices increase by two to four cents. There has been minimal fluctuation as demand also held steady over the last four weeks.
Domestic crude prices fell after domestic crude inventories decreased by 7.5 million bbl to 531.7 million bbl. Decreasing crude stocks could mean that crude production is beginning to meet demand, which could stabilize crude prices this week as COVID-19 outbreaks continue to grow worldwide.
For updated state and metro prices log on to https://gasprices.aaa.com/
About AAA – The Auto Club Group
The Auto Club Group (ACG) is the second largest AAA club in North America. ACG and its affiliates provide membership, insurance, banking, financial services, and travel offerings to over 13.5 million members across 13 U.S. states, the province of Quebec and two U.S. territories including Florida, Georgia, Iowa, Michigan, Nebraska, North Carolina, North Dakota, Tennessee, Wisconsin, Puerto Rico, South Carolina and the U.S. Virgin Islands; most of Illinois and Minnesota; and a portion of Indiana. ACG belongs to the national AAA federation with more than 60 million members in the United States and Canada whose mission includes protecting and advancing freedom of mobility and improving traffic safety. Motorists can map a route, identify gas prices, find discounts, book a hotel, and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile. Visit AAA on the Internet at AAA.com.