CHARLOTTE, N.C. – Gasoline prices are setting record highs daily in North Carolina and are more than 60 cents higher this year for the Easter holiday.

South Carolina is a fraction of a penny away from surpassing the record high set Sept. 5, 2005 after Hurricane Katrina hit the Gulf of Mexico and will also be more than 60 cents higher than last Easter weekend.

“We expect gasoline prices to continue their upward spiral between now and Memorial Day,” said David E. Parsons, president and CEO of AAA Carolinas. “Refineries retool in the spring for cleaner burning summer blend gasoline and regular maintenance at a time when driving usually increases. That switchover has not yet occurred, since Easter this year is about two weeks earlier than last year.”

Gasoline prices are unlikely to reach $4 a gallon in North Carolina, Parsons said, because as prices increase, drivers are more likely to alter their driving behavior and spend less time behind the wheel.

Easter is not a heavily traveled holiday weekend away from home, so the record-high prices may not severely affect motorists decision to drive, said Parsons.

The North Carolina state average is $3.260 for a gallon of regular, unleaded gasoline, an increase of 63 cents over the state’s 2007 Easter average price of $2.63, and 23 cents over Jan. average gas price of $3.02. Wilmington has the highest gas prices at $3.27 while the cheapest gas is available is High Point at $3.23.

South Carolina’s average gas price is $3.139 for a gallon of regular, unleaded gasoline, an increase of 62 cents over last year’s price of $2.51.

Spikes in the gasoline price increases are directly related to the slowdown in the economy, both the weakening of the dollar against other foreign currencies and the speculation in investment markets.

“The latest price spikes are not fueled by either demand for gasoline or tight markets,” said Parsons. “Instead, it is driven by unprecedented levels of investment in crude oil and gasoline futures as a hedge against the falling dollar and a ‘safe haven’ from sliding prices in other investments such as real estate, equities, and bonds.”

With oil trading at record highs near $1.10 per barrel and higher, chances are good that gasoline prices will go climb as the heavy summer driving season approaches, said Parsons.

Motorists looking for ways to conserve gasoline should:

• Buy the least expensive gasoline you can find. Gasoline is federally regulated and basically the same for each octane rating. Check www.aaa.com/fuelfinder <http://www.aaa.com/fuelfinder> to find the cheapest gasoline in a three, five or 10-mile radius of a zip code or city.

• Modify your driving behavior by using cruise control when possible and by following the speed limit. Do not accelerate or decelerate quickly. For every five miles per hour you go faster than 65 mph, gasoline consumption is increased 10 percent.

• Make sure tires are properly inflated.

• Keep vehicles properly maintained, including scheduled oil changes (check owner’s manual for recommendations) and air filter replacements.

• Avoid excess weight in your vehicle. When vacationing, keep luggage inside the car, rather than strapped on the roof where it will create drag.

• If you have more than one vehicle, drive the one with the better gas mileage.

• When possible, consolidate trips.

An affiliate of the American Automobile Association, AAA Carolinas was founded in 1922 as a not-for-profit organization that now serves more than 1.6 million members with travel, automobile and insurance and services and is an advocate for the safety and security of all travelers.

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