Gas prices drop slightly in Myrtle Beach, analysts watching for impacts from Nicholas
MYRTLE BEACH, S.C. (WMBF) – Many drivers across the country have seen lower gas prices of late, as demand lags and recovery efforts continue in the wake of Hurricane Ida. But things could change as the Gulf Coast is threatened by another tropical system.
In Myrtle Beach, gas prices have fallen 2.4 cents in the past week, averaging $2.89 per gallon Monday, according to information from GasBuddy. Drivers are paying just 1.6 cents more per gallon than a month ago, but $1.02 more than a year ago.
GasBuddy reports the cheapest station is priced at $2.65 per gallon Monday, while the most expensive is $3.09, a difference of 44 cents.
Myrtle Beach gas prices are still below the national.
Prices nationally have fallen 1.9 cents per gallon in the last week, averaging $3.15 per gallon Monday. The national average is down 2.8 cents per gallon from a month ago but stands 97.7 cents higher than a year ago, according to GasBuddy.
“Sagging U.S. gasoline demand along with continued recovery after Hurricane Ida have helped gas prices edge slightly lower in most states from where they were a week ago. But with Tropical Storm Nicholas threatening another key area of refineries in Houston with significant rain, we could see the decline in prices hit the pause button,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “While Nicholas would appear to be a minor storm, we could see a deluge of water - the same issue that caused some significant damage in Ida’s wake to refineries in Louisiana. Combined with the earlier storm, Nicholas could make things more challenging. However, as gasoline demand has now fallen for four straight weeks, there is more breathing room even if some capacity does temporarily go offline. It’s too early to tell, clearly, but motorists should be aware.”
Click here for more data from GasBuddy.
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