At a penny more expensive on the week, the national gas price average ($2.25) increased for the first time since October. Despite the increase, today’s average is still cheaper month-over-month (-14 cents) and year-over-year (-28 cents).
 
The Carolinas are experiencing fluctuating prices this week. North Carolina’s $2.09 average is two cents less than a week ago, 18 cents less than a month ago and 30 cents less than this time last year. South Carolina’s $1.94 average is three cents higher than this time last week – with this being the first time prices have gone up in the state since October. At 10 cents cheaper on the month and 36 cents cheaper on the year, South Carolina’s average is still one of the lowest in the country.
 
“The price of crude oil has been slowly increasing since the beginning of the year, which is starting to push up gas prices,” said Tiffany Wright, AAA Carolinas spokesperson. “Hopefully the increases will be small and prices will level off so we can continue enjoying low costs at the pump.”
 
The price per barrel (WTI) increased from $3 last Monday to close on Friday to settle at $51 per barrel.
 
Last week saw not only more expensive crude oil, but a sizeable build in U.S. gasoline stocks and a small increase in demand. Overall demand has been low lately, contributing to the growth in stocks and helping to keep gas prices lower despite increasing crude prices.