SC gas prices fall a few cents after ups and downs nationwide

Despite what petroleum analysts called a “mixed week at the pump,” the average price of gasoline in the Palmetto State fell 3.5 cents over the previous week.
Published: Jan. 16, 2023 at 5:32 AM EST|Updated: Jan. 16, 2023 at 7:49 PM EST
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CHARLESTON, S.C. (WCSC) - Despite what petroleum analysts called a “mixed week at the pump,” the average price of gasoline in the Palmetto State fell 3.5 cents over the previous week’s average.

GasBuddy, which surveys approximately 3,000 gas stations each week, said the average price per gallon in South Carolina is $2.94 as of Monday morning. That’s 13.8 higher than one month ago but 5.2 cents lower than one year ago.

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As of Monday morning, the lowest-priced gas in the Tri-County area was $2.74, which GasBuddy recorded at a Charleston Costco and a North Charleston Sam’s Club.

The cheapest gas statewide was $2.42 per gallon on Sunday, while the most expensive was $3.49, a spread of more than a dollar per gallon.

The national average price of gas, however, rose 2.5 cents over the past week, setting the national average at $3.28 per gallon. That’s up 14.9 cents from one month ago and 2.2 cents lower than one year ago.

“The good news as of late has been the continued decline in average diesel prices, which fell over a penny per day last week,” Patrick De Haan, the head of petroleum analysis at GasBuddy, said. “Oil prices have seen a bit of a rally, finishing last week at nearly $80 per barrel again as Chinese demand starts to jump as expected.”

De Haan says a rise in COVID cases and deaths in China could slow the jump in demand there.

“Gas prices may nudge up slightly in the week ahead in some areas, while others could hold flat,” he said. “The window on price drops, however, appears to be coming up on the horizon as we get closer to what’s likely to be a significant refinery maintenance period ahead of summer.”

The national average price for diesel fuel fell 7.2 cents in the last week and stands at $4.56 per gallon.