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‘Finally some relief’: Gas prices fall in Myrtle Beach area; first time in 9 weeks

In remarks Monday, President Joe Biden said he is looking at a possible gas tax holiday and may make a decision on it by end of this week. (Source: CNN/Pool)
Published: Jun. 20, 2022 at 7:05 AM EDT|Updated: Jun. 20, 2022 at 2:20 PM EDT
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MYRTLE BEACH, S.C. (WMBF) – For the first time in over two months, gas prices have fallen in the Myrtle Beach area and nationwide.

In the Grand Strand, gas prices fell 4.4 cents per gallon in the last week, averaging about $4.53, according to GasBuddy’s survey of 197 stations.

MORE INFORMATION | Gas Price Map

But prices are still 24.8 cents higher than a month ago and $1.79 higher compared to a year ago.

The national average price of gas fell 4.2 cents per gallon last week, dropping prices below the $5 mark at $4.97.

“Finally some relief! For the first time in nine weeks, gasoline prices have fallen, following a broad sell-off in oil markets last week, pushing the national average back under the $5 level with most states seeing relief at the pump,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “I’m hopeful the trend may continue this week, especially as concerns appear to be mounting that we may be on the cusp of an economic slowdown, putting downward pressure on oil. But the coast isn’t yet entirely clear. We could see the national average fall another 15 to 30 cents, if we’re lucky, by the time fireworks are flying, barring any unexpected shutdowns at a time when the market is extremely sensitive to such.”

In South Carolina, the statewide average for a gallon of gas is $4.50, which is down 7.2 cents from last week.

North Carolina’s average is a little more at $4.60 per gallon.

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