Asheville gas prices surge to a record-high; will the increasing prices continue?
National and local price averages for a gallon of regular gas and diesel continue surging, with no relief to come as the cost of crude oil remains high.
As of May 18, the average cost for a gallon of gas in Asheville was $4.38, the highest recorded average price for the area, according to AAA. The price is up 37 cents in the past two weeks, a marked escalation from the 11-cent increase over the two weeks prior.
The increase follows a national trend, with the average up 32 cents in the past two weeks to $4.56 per gallon. Throughout the rest of North Carolina, the average price a gallon is $4.32.
The cost of diesel has also quickly increased over the past month, setting the highest recorded national and local averages. Asheville’s current average price for a gallon of diesel is $5.54, up 59 cents in the past month. North Carolina’s average price is slightly less than in Asheville, at $5.53 per gallon. The national average stands at $5.57 for a gallon of diesel, an increase of 54 cents over the past month.
“The high cost of oil, the key ingredient in gasoline, is driving these high pump prices for consumers,” Andrew Gross, an AAA spokesperson, said in a news release May 16. “Even the annual seasonal demand dip for gasoline during the lull between spring break and Memorial Day, which would normally help lower prices, is having no effect this year.”
National gasoline demand has decreased slightly from 8.86 million barrels per day to 8.7 million, according to AAA. This lower demand would typically help decrease prices at the pump. However, with crude oil prices remaining high, pump prices are likely to continue facing upward pressure, the AAA press release states.
National news: The average gas price is above $4 in every state. How long will they continue to rise?
While Asheville's gas prices are below the national average, the average cost of both regular gas and diesel are increasing more rapidly than those nationally. This could be due to an influx of vacationers driving up demand locally, experts say.
"Asheville, like many cities in NC is a travel destination year-round," Tiffany Wright, AAA's public relations manager for the Carolinas, said via email.
"This means demand increases a lot faster than other cities nationwide as more vacationers flock there for getaways. I'd estimate that demand started increasing in Asheville around spring break, through Easter and Mother's Day weekend and will continue to do so through the Memorial Day holiday and into the rest of the summer travel season."
Another intensifier of gas prices is the annual switch to a more expensive summer blend of gasoline, happening now. The switch usually adds 7 to 10 cents per gallon depending on the market and should be complete nationwide by the end of June, according to AAA.
As drivers look for ways to save amid rising prices, the popular fuel-savings app Gas Buddy can be used to find the lowest cost of gas around North Carolina. According to the site, Shell gas station off of Hendersonville Road in Arden currently totes the lowest price in Buncombe County at $4.19 for a gallon of regular gas and $5.37 for a gallon of diesel.
This article originally appeared on Asheville Citizen Times: Gasoline price surges past 2 weeks in Asheville and nationally
