Gasoline Prices Lowest Since 2005

Drivers traveling during the July 4th holiday are paying the lowest prices at the pump in 12 years.  The national average for gas fell to $2.23 per gallon on Monday. In North Carolina prices have fallen 3 cents in the last week and 13 cents in the last month.

In North Carolina, about 25 percent of stations are selling gas below $2.00 a gallon. Some of the cheapest gas in the country is in South Carolina at $1.90.

According to AAA, the last time gasoline prices were this low was the Independence Day holiday in 2005.

The cheapest states for gasoline this July 4th are:
South Carolina    $1.90
Alabama             $1.96
Oklahoma           $1.97
Mississippi          $1.97
Tennessee          $2.00
Arkansas            $2.00
Missouri              $2.00
Virginia               $2.01
Texas                 $2.02
Louisiana            $2.04

The most expensive gasoline prices can be found in:
Hawaii                $3.05

California            $2.94
Alaska                $2.83
Washington        $2.81

Officials who monitor the oil market are concerned about a decrease in supply and an increase in demand before the end of the summer. That could lead to higher prices. But for now, supply is outpacing demand, which is helping keep prices low at the pump.