Holiday drivers calculate price of gas during long weekend

By David Kennard, posted May 27, 2021 on BizFayetteville.com

Holiday drivers keep a watch on gas prices. File Photo

Most gas stations around the region have returned to normal supply levels, although drivers may find some stations operating at limited capacity or with only one grade of gasoline.

Still, drivers looking to get out of town for the Memorial Day holiday shouldn’t be too worried about supplies; it’s the price of gas that might get you.

According to gasprices.aaa.com, drivers will find the gasoline in the Fayetteville area averaging $2.88 per gallon. Compare that to other locations around the state:
Raleigh $2.94.
Wilmington: $2.87
Charlotte: $2.87
Asheville: $2.953

Officials at AAA said after a week of price spikes around the country, most stations have begun to hold steady at a little more than $3 per gallon.
Travelers planning long drives over the weekend will find that the Southeast leads the nation with average lower prices following the ransomware attack on the Colonial Pipeline. Drivers out West are seeing average prices in the mid-$3 per gallon range. California remains the leader in high prices, where gasoline is selling for an average of $4.17 per gallon.

“AAA expects 37 million Americans to travel, mostly by car and plane, for the Memorial Day holiday weekend,” said Jeanette McGee, AAA spokesperson. “That is a 60% increase over last year’s holiday and a strong indication that summer travel is going to be largely popular. With the increase in travel demand, gas prices are going to be expensive no matter where you fill up, so plan ahead.”

Calculating gasoline into your travel plans may be a determining factor on where you can afford to go. Assuming you’re going to be paying around $3 per gallon and you're driving the family Suburban getting 22 miles per gallon (highway), here’s a look at the cost of getting to some regional destinations and back.

Asheboro, $22.80
Wilmington, $24.67
Myrtle Beach, South Carolina, $29.50
Wright Brothers monument, $64.36
Raleigh, $20.11
Uwharrie camping, $21.45
Devils Gut Kayaking, $40.23
Charlotte, $37.55
Battleship North Carolina, $23.87

The price of gasoline that drivers see at the pump depends loosely on supply and demand but also on industry fluctuations, according to AAA officials.
On Thursday AAA stated that new data from the Energy Information Administration (EIA), showed total domestic refinery utilization increased slightly to 86.3 percent last week, while total domestic supply decreased by 2 million bbl to 234.2 million bbl and demand increased from 8.8 million b/d to 9.2 million b/d.

With the gasoline distribution system continuing to recover from the attack and grappling with a shortage of gasoline tanker drivers, higher refinery utilization rates will ensure refined products, including gasoline, continue to flow where they are most needed.

“As demand and supply move in sync, the national average is expected to continue stabilizing through the weekend,” according to a prepared statement from AAA. “However, we could see some fluctuation … with the lead up to Memorial Day Weekend, during which AAA forecasts 34 million Americans to take road trips.”

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