Drivers could bring in New Year with low gas prices

MYRTLE BEACH, SC (WMBF) - Right now gas prices are the lowest they've been in years and they are expected to get even lower. By the beginning of next year, the Grand Strand could see gas at less than $2 a gallon.

"I remember when it was ten cents when I was really young," said Tom Martin, a local. "I'm glad we're getting some kind of break."

With the gas prices continuing to plummet, people are starting to get nostalgic.

"When I started driving I think it was maybe 99 cents or something like that," said Martin.

Gas prices in the Grand Strand are falling every day, and it seems not even the gas stations can keep up. While the business may be good for the people selling the gas, the people benefiting the most are the ones buying it.

"You're talking maybe four, five dollars on ten gallons or something like that. That's gonna help you a lot," said Sal Ricci.

Ricci lived in New Jersey his whole life but several months ago retired to South Carolina. He says the cheap gas is one of the things that makes living on a strict budget much easier.

"I can do some of the activities I want to do. Maybe go to a show or something. I don't have money to pay out on activities, right now I gotta worry about my cost of living for my food and my payments, electric bills and what have you," said Ricci.

One expert we spoke to from CCU says the low gas prices here are because of the taxes in South Carolina. In fact, South Carolina has the third lowest gas tax in the entire country.

Luckily for drivers, gas prices are expected to go even lower moving into next year.

Prices at the pump reflect the price of a barrel 90 days before you make a purchase, and today a barrel is about 20 percent less than it was a month and a half. Meaning people from every walk of life will be able to enjoy savings at the pump to start off the New Year.

"Now that the gas is going lower, I hope they stay low," said Ricci.

With the way  gas prices are trending, some experts say you are now more likely to see gas below $2.50 a gallon than you are to see it above $3 a gallon.

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