CHARLESTON, S.C. (WCBD) – Drivers in South Carolina received a bit of good news this past week as gas prices saw a notable decline, just in time for the summer travel season.
Based on data from GasBuddy, the average price per gallon of regular gasoline in South Carolina decreased by 19.8 cents over the previous week, settling at $3.65 as of Monday. This marks a drop of nearly 49 cents from last month, although it remains approximately 96 cents higher compared to the same period last year.
A comprehensive survey by GasBuddy, covering over 3,000 gas stations across the state, revealed significant price variations. As of Sunday, the lowest gas price recorded was $3.17 per gallon, while the highest reached $4.49, creating a substantial gap of $1.32.
The price decrease was observed in several areas, including Columbia, where gas prices fell by 19.5 cents to $3.63 per gallon, and Spartanburg, which saw a reduction of almost 23 cents to $3.54. Conversely, Augusta experienced an increase, with prices climbing 14.5 cents to $3.80 per gallon.
On a national scale, the trend mirrored that of South Carolina, with the average gas price in the U.S. dropping by 17.9 cents over the last week to $4.09 per gallon. This represents a 45-cent decrease from a month ago, though it remains just over $1 higher than the previous year.
The national average for diesel also dropped, falling 13.8 cents over the past week to $5.29 per gallon.
Patrick De Haan, head of petroleum analysis at GasBuddy, said declining oil prices and increased refinery output have helped push prices lower.
“Average gasoline prices declined in virtually every state over the last week as oil prices continued to fall and refiners ramped up output,” De Haan said. “For now, motorists may enjoy the savings at the pump, but the risk of a significant reversal has not gone away.”
De Haan noted global supply concerns like tensions affecting key oil transit routes could quickly drive prices higher in the coming weeks.