SC gas prices drop again, average cost nearing $3 mark
CHARLESTON, S.C. (WCSC) - The average price for a gallon of gas in South Carolina fell 5.3 cents over the past week, GasBuddy said.
The average price for a gallon of gas as of Monday is $3.02, according to GasBuddy’s daily survey of 3,028 stations across the state. That’s 13.5 cents lower than a month ago but still $1.12 per gallon higher than this time last year.
Petroleum analysis chief Patrick De Haan said the drop in gas prices gained momentum as oil prices remained at what he called a hefty discount, which he attributed to “continued anxiety over the omicron variant and because some countries have begun issuing lockdowns.” Those lockdowns, he said, are keeping motorists in some countries from consuming as much fuel.
The cheapest gas in the state was $2.58 per gallon, while the highest was $3.69, a difference of $1.11.
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As of Monday morning, a gas station in West Ashley showed the lowest price in the Lowcountry at $2.88.
“While the Great Lakes region, the fastest to see prices respond to market fluctuations, is seeing hefty monthly declines approaching 30 cents per gallon, much of the rest of the country is lagging behind,” De Haan said. “But, we will see precipitous declines in the next week or two as stations continue to sell through higher-priced inventory before slowly lowering their prices. It’s not impossible given the conditions that price wars, where stations lower their price significantly, could emerge as stations now have considerable room to lower prices.”
Meanwhile, the national average price also fell 5.3 cents since last week, averaging $3.34, a price that is 6.9 cents lower than this time last month but $1.19 per gallon higher than one year ago.
In neighboring areas of South Carolina, drivers in Augusta were paying an average of $3.07 per gallon, while Spartanburg-area stations set prices at an average of $3.01 per gallon. In Columbia, the average price was $2.93, down 7.3 cents from last week’s average.
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