Prices at the pump nationwide remain stable and are even declining slightly in some areas including Charlotte. For travelers who drove over the Fourth of July weekend, gas prices were the cheapest they have been in five years.
As of early Wednesday, the price of a gallon of unleaded gas in Charlotte has fallen two-tenths of a penny from last week and is now $2.638, according to auto group AAA. On average, Charlotteans are saving 90 cents a gallon now compared with this time in 2014.
In North Carolina, the average price of gas is $2.643 a gallon, which is down a fraction of a penny from last week and 90 cents less than this time last year. Nationwide, gas is $2.760 a gallon, which is less than a cent cheaper than one week ago and 89 cents cheaper than one year ago.
Gas prices in South Carolina are the cheapest in the country at $2.427 a gallon.
Demand for gas typically climbs in July and August, and the ability of supply to keep up with the demand could impact prices, AAA said in a report this week. Further, despite the fact that gas prices fell every day except one in July 2014 across the U.S., unforeseen events like hurricanes, refinery issues and geopolitical unrest could cause prices to jump.
For now, drivers in 36 states and the District of Columbia are paying slightly less – even if it’s only a fraction of a penny – for gas now compared with just one week ago.