AAA: Memorial Day Gas Prices Lowest in 16 Years

Published Wednesday, May 27, 2020 at 8:50 am

For another week the Southeast region remains home to the cheapest state gas price averages as the Carolinas see the lowest Memorial Day pump prices in 16 years.

Gas prices have been declining since February due to the decrease in gasoline demand brought on by stay-at-home orders as a result of COVID-19. Since that time, the state average declined a total of 66 cents per gallon for North Carolina and a total of 65 cents for South Carolina. Now, as more Carolinians take to the roads again, pump prices are beginning to bounce back.

“As Carolinians are gradually returning to the roads, we’re seeing the demand for gasoline improve and pump prices are on the rise,” said Tiffany Wright, AAA spokesperson. “Although it’s unclear how high they’ll go, motorists could still see the cheapest summer at the pump in quite some time.”

North Carolina’s $1.82 average is eight cents more than a week ago, 17 cents more than a month ago and 78 cents less than a year ago. South Carolina’s $1.66 average is four cents more than a week ago, nine cents more than a month ago and 81 cents less than a year ago.

Today’s national gas price average is pennies away from hitting the $2/gallon mark at $1.96, which is eight cents more than a week ago, 19 cents more than last month and a significant 87 cents cheaper than a year ago.

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