SC gas prices drop nearly 8 cents, state average at $3.82
CHARLESTON, S.C. (WCSC) - The average price for a gallon of gas in South Carolina dropped nearly eight cents last week.
GasBuddy’s survey of more than 3,000 gas stations in the state showed a decline of 7.6 cents per gallon, bringing the state’s average price per gallon down to $3.82. That’s nine cents higher than a month ago and $1.22 higher than one year ago.
“Oil prices fell last week as Covid cases in China surged, prompting restrictions on movements and hurting oil demand,” Patrick De Haan, head of petroleum analysis at GasBuddy, said. “Meanwhile, President Biden’s announcement that the U.S. would be releasing 180 million barrels from the Strategic Petroleum Reserve caused an even further decline in oil, leading gas prices in nearly all areas of the country to fall over the last week.”
The cheapest station in the state as of Monday morning posted a price of $2.99 while the highest was $4.69, a difference of $1.70 per gallon.
The cheapest gas in the Tri-County as of Monday morning was at a station in North Charleston selling gas for $3.59 per gallon.
The national average also fell, dropping 5.4 cents per gallon to $4.17, 25.5 cents higher than a month ago and $1.31 higher than one year ago.
De Haan says declining prices could continue as long as certain conditions remain.
“So long as oil prices remain under $100 per barrel and there’s no escalations in Russia’s war on Ukraine, we may be poised to see gas prices decline again this week as the U.S. and other countries try to raise oil supply to tip prices lower,” De Haan said.
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