Gas prices in S.C. continue to fall, approach $1.50 a gallon

Gasoline prices continue to fall across S.C. and nation.

Gasoline prices continue to tumble ahead of refineries’ spring changeover to more expensive summer blends.

The average price for a gallon of gasoline in South Carolina fell 3.7 cents during the past week to $1.52, according to gas price service GasBuddy. Motor club AAA’s Daily Fuel Gauge Report puts the price a penny higher. That’s about 49 cents lower than this time last year.

Nationally, the average price stands at $1.69 after dropping about 3.9 cents per gallon during the past week, according to both GasBuddy and AAA. That’s about 56 cents less than one year ago at this time.

Forty-five states now offer gasoline under $2 a gallon. Oklahoma takes the prize for the cheapest gasoline in the U.S. at $1.37 a gallon.

“Sadly, these incredibly low gas prices won’t be here forever, as refineries talk of production cuts with crude oil at a 13-year low,” said Jeff Pelton, GasBuddy senior petroleum analyst. “Additionally, their spring turnarounds and the changeover to summer spec gasoline also loom ominously on the horizon. The sooner the refineries can complete their maintenance and start producing gasoline again the better for drivers everywhere.”

In South Carolina, the lowest average gasoline prices can be found in the Upstate at $1.47 a gallon. Charleston and Columbia have the highest average prices per gallon at $1.56.

Reach Warren L. Wise at (843) 937-5524 or twitter.com/warrenlancewise.