Queen City News

Could we hit $5.00 a gallon for gas? Expert says it could be a possibility by Memorial Day

CHARLOTTE (QUEEN CITY NEWS) — The pain at the pump is hurting more and more each day for some drivers.

“Pretty big deal for me because I have to put in about twenty dollars a day to get to work and back,” said Jacob Walker, from Cleveland county.

In some states prices have jumped ten cents in a day. AAA of the Carolinas say workers are watching the gas prices, and unfortunately, they are not going to come down anytime soon.

A year ago at this time, the national average for a gallon of gas was $3.04, and now the average price per gallon is $4.59. JP Morgan is predicting that the entire country will see the $6 a gallon mark by later this year, possibly even as early as August and GasBuddy expects the $5 a gallon mark to fall over Memorial Day weekend.

“Let’s face it, everything costs more,” said Tiffany Wright, director of public affairs with AAA of the Carolinas. “Regardless of what you are driving, regardless of where you are headed too, you’re going to be spending more this summer season.”

There are some factors also driving the price higher, added Wright, “We’ve already started the summer blend, the summer switch, I should say to the more expensive blend of fuel. That has already started, that won’t end until mid-June and that accounts for seven to ten cents more in what you are going to see at the pump.”

That blend helps the gas from evaporating during high temperatures. Then, add in demand, and high crude oil prices. But people say, even with the higher prices, it won’t change their habits for now.

“We just stop and get gas because you have to have it and we just go,” says Darryl McClure from Belmont. “It hasn’t stopped us yet, doesn’t mean it may stop us, right now it hasn’t stopped us at all. So, we go and do what we got to do, have fun, and enjoy life.”