‘Well-needed relief’: Myrtle Beach area gas prices drop 15 cents over last week

President Biden is pushing for a federal gas tax suspension. (Source: CNN)
Published: Jul. 5, 2022 at 6:44 AM EDT
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MYRTLE BEACH, S.C. (WMBF) – Drivers aren’t having to dig as far into their pockets as gas prices in the Myrtle Beach area continue to decline.

For the third week in a row, gas prices have dropped, and the nationwide average is at its lowest level in a month, according to GasBuddy.

In Myrtle Beach, the average price for a gallon of has dropped 15 cents in the last week, bringing the average to $4.23. The cheapest station in the area was priced at $4.02 on Monday, while the highest was priced at $4.75.

Gas prices in the Myrtle Beach area are 22 cents lower than a month ago but are still $1.45 higher compared to a year ago.

But GasBuddy analyst Patrick De Haan warns that the relief could be short-lived.

“While we may see prices decline into this week, the drop could fade soon if oil prices reverse, especially with strong demand over the holiday. For the time being, Americans are spending nearly $100 million per day less on gasoline than when prices peaked a few weeks ago, and that’s well-needed relief at a time when gas prices remain near records,” De Haan explained.

The average price for a gallon of gas in South Carolina dropped 12 cents to $4.25, while in North Carolina the average stands at $4.42 per gallon.

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