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AAA: Memorial Day gas prices were the cheapest they have been since 2005

Heavy midday traffic on Highway 160 near Interstate 77 in Fort Mill on Feb. 25.
Heavy midday traffic on Highway 160 near Interstate 77 in Fort Mill on Feb. 25. dhinshaw@charlotteobserver.com

Gas prices in Charlotte and beyond continue to climb steadily heading into the summer driving months, though drivers are still enjoying cheaper gas now compared to this time last year.

In fact, average prices at the pump on Memorial Day were the cheapest they have been in 11 years nationwide, according to a report from auto group AAA.

As of early Wednesday, the average cost of a gallon of unleaded gas in the Charlotte area was up 4 cents from a week ago, AAA says. Average North Carolina prices were also up 4 cents, and in South Carolina, prices rose 2 cents over the week. Nationally, the average price rose 2 cents.

Prices remain relatively low thanks to ample oil supplies. This summer, AAA says, is expected to be “characterized by higher-than-normal gasoline demand.” Another factor that could sway prices: the Atlantic hurricane season, which runs June 1-Nov. 30.

Below are the average prices in the Charlotte region, which includes Gastonia and Rock Hill, the Carolinas and the rest of the U.S. AAA surveys 120,000 stations nationwide to determine average prices.

Charlotte

North Carolina

South Carolina

U.S.

Current

$2.22

$2.26

$2.10

$2.32

Week ago

$2.18

$2.22

$2.08

$2.30

Year ago

$2.55

$2.61

$2.44

$2.75

This story was originally published June 1, 2016 at 8:32 AM with the headline "AAA: Memorial Day gas prices were the cheapest they have been since 2005."

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