Gas prices in Charlotte still lowest in NC but are rising

Gas prices in the Charlotte area are still the lowest in the state, but they’re rising and likely will continue to drift up in coming months.

As of early Tuesday, it’s $2.111 for a gallon of unleaded regular gas in the Charlotte metro area, while a week ago it was $1.992, according to auto group AAA. Nationwide, the average gas price has increased every day for two weeks and is now $2.185 a gallon.

As is the case nationwide, it’s still much cheaper in Charlotte to fill up at the pump now compared with a year ago – in Charlotte it was $3.248 a gallon a year ago, and the U.S. average was $3.294. Many factors affect the recent gas price increases, including the start of seasonal refinery maintenance this month to prepare for the busy summer driving season.

Between now and the middle of spring, it’s not unusual for gas to rise 30 to 50 cents per gallon, according to AAA.

Only five states – Idaho, Montana, Utah, Wyoming and South Carolina – are paying less than $2 on average for a gallon of regular gasoline. Last week, 20 states were paying less than $2.

Adding to market uncertainty is the first nationwide strike at American oil refineries since 1980. More than 5,000 members of the United Steelworkers union are on strike at refineries and chemical plants that are responsible for processing more than 10 percent of U.S. petroleum. According to AAA, refineries continue to operate, though news of the strike has reportedly caused higher wholesale gas prices.

Globally, supply outweighs demand, which should keep the price of crude oil relatively low for “at least the first half of 2015,” AAA said. West Texas Intermediate, the U.S. benchmark, has traded between the high $40s and low $50s over the past week, reflecting the global market volatility.

This story was originally published February 10, 2015 at 8:21 AM with the headline "Gas prices in Charlotte still lowest in NC but are rising."