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Gas prices show slight fall over last week

The average price per gallon of gas in South Carolina fell by one cent last week as oil prices...
The average price per gallon of gas in South Carolina fell by one cent last week as oil prices dipped below $80 per barrel for the first time in weeks.(Live 5/File)
Published: Nov. 8, 2021 at 7:30 AM EST
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CHARLESTON, S.C. (WCSC) - The average price per gallon of gas in South Carolina fell by one cent last week as oil prices dipped below $80 per barrel for the first time in weeks.

The average price for gas in the state is $3.15 per gallon, according to GasBuddy’s daily survey of 3,028 gas stations statewide.

That price is 16.1 cents higher than one month ago and $1.34 higher than one year ago.

The cheapest gas in the state is $2.84 per gallon, and the cheapest gas in the Tri-County area is $2.85 per gallon at a Charleston gas station.

Click here to find the cheapest gas near your neighborhood.

The most expensive gas in the state is $3.74 per gallon, which represents a range of 90 cents from lowest to highest prices.

The national average price of gas rose 1.8 cents over the last week and is averaging $3.41.

GasBuddy analyst Patrick De Haan said that while last week’s fall in oil prices was not enough to provide much relief last week, he expects to see small declines this week in most of the country because of a drop in wholesale gas prices.

“At OPEC’s monthly meeting last week, the cartel held firm to the small increases they agreed to in July, raising November production by 400,000 barrels per day,” De Haan said. “With President Biden still mulling over options to help push gas prices down, we could continue to see some volatility in oil prices. I don’t immediately see a large decline or surge coming in the run-up to Thanksgiving, but U.S. gasoline demand does remain strong. Levels are currently rivaling September demand, so we know high prices aren’t significantly curbing consumption.”

Around South Carolina, the average price of gas in Columbia is $3.07 per gallon, down 2.9 cents from the previous week. In Spartanburg, the average price dropped 3.4 cents to $3.13 per gallon, while in the Augusta area, the average price dropped one cent to $3.14.

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