Gasoline prices continue their summer slide across South Carolina, falling another 4.3 cents during the past week and keeping the cost of gas lowest in the nation.
The average price for a gallon of gasoline in the Palmetto State now stands at $2.32, about 93 cents cheaper than this time last year and 12. 5 cents less than one month ago, according to gas price gauger GasBuddy’ survey of more than 3,000 gas outlets in the state.
The price of gasoline nationally also tumbled 3 cents last week to an average of $2.73 a gallon. That’s about 79 cents lower than one year ago and 5.2 cents less than one month ago, according to GasBuddy.com.
“All but seven states in the U.S. saw a drop in gasoline prices over the last week, with five states seeing a double-digit decline per gallon,” said Patrick DeHaan, GasBuddy senior petroleum analyst. “So far this July, West Texas Intermediate crude has managed just three days of increases with those increases averaging out to just 72 cents per barrel.”
DeHaan said the price of crude oil dropped nearly $10 per barrel since the start of the month, and in areas of the country where refineries haven’t encountered setbacks, prices fell.
“For now, it would appear that the latter half of the summer will bring cheaper gas prices than the first half while this autumn is shaping up to give this past winter a run for its money in terms of cheap gas prices,” DeHaan said.
In South Carolina, motorists in Charleston-North Charleston pay the highest price for gasoline at $2.35 a gallon, according to AAA’s Daily Fuel Gauge Report. Customers in Columbia enjoy the lowest prices in the state at $2.29 a gallon.
Reach Warren L. Wise at 937-5524 or twitter.com/warrenlancewise.