South Carolina and Myrtle Beach gas prices dropping, for now - WMBFNews.com, Myrtle Beach/Florence SC, Weather

Grand Strand gas prices dropping, for now

MYRTLE BEACH, SC (WMBF) According to AAA Carolinas spokesperson Tom Crosby, the price at the pump should continue to inch downward over the next few weeks.

There are two factors driving gas prices down according to Crosby. Oil refineries have picked up production, creating a larger supply of gas. Also, driving nationwide has dropped five to six percent compared to this time last year. Crosby attributes this drop to drivers cutting back on lengthy trips and being cost conscious of gas prices. The reduction in driving brings down the demand for gas.

There's no telling how much the price will drop over the next few weeks, however, Crosby says it's a good sign the cost for a regular gallon of gas has not reached an average of $4, like many were speculating. The national average for a gallon of regular last week was $3.92, and on Monday the average price stood at $3.90.

For local business owner Robert Normadin, even the slightest decrease is good new. "Every little bit helps, and when you use as much as I do, it adds up. It's just going to help everybody," said Normadin.

Matthew Harigan drives trucks for a living, and he says this is the kind of trend he likes to see. "It comes out of our food money, our rent money. It's good to know it's moving in the right direction."

This current trend is about a month ahead in comparison to last year's gas prices. In 2011, gas prices didn't start to fall until May. Right now, drivers are still paying 10 cents more for a gallon of gas compared to prices last year.

Copyright 2012 WMBF News. All rights reserved.

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