Columbia, South Carolina – In a week that brought a slight respite for motorists, South Carolina witnessed a noticeable decrease in gas prices, offering some relief from the persistent climb of fuel costs. According to the latest surveys conducted by GasBuddy, the state saw an average fall of 6.8 cents in gas prices, bringing the cost to an average of $2.92 per gallon. This recent adjustment marks a modest but welcome change for drivers in the Palmetto State.
Prices higher than a month ago, slightly lower than a year ago
Despite this decline, the current prices stand 4.4 cents higher than they were a month ago but are 5.2 cents lower than the rates a year ago. The disparity in gas prices across the state is significant, with the cheapest station reporting prices as low as $2.55 per gallon and the highest at a stark $3.99 per gallon, a gap of $1.44 per gallon.
On a national scale, the trend in gas prices also mirrored a downward shift, albeit a smaller one. The average price for a gallon of gasoline across the United States decreased by 1.9 cents, landing at $3.24 per gallon. This figure is up by 13.3 cents from the previous month but shows a reduction of 9.2 cents compared to the same period last year.
In addition to gasoline, diesel prices also saw a national decrease, dropping by 2.6 cents to an average of $4.06 per gallon. This change in diesel prices further reflects the fluctuations in the broader fuel market.
“Motorists have finally seen a bit of a break in the recent rise in the national average, with more states seeing drops than increases in the last week. While the pause has certainly been nice, this is more like a rain delay than it is a 7th inning strech,” Patrick De Haan, head of petroleum analysis at GasBuddy, said.
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“It’s likely only a matter of time before we see the rise re-engage and prices start to head higher, but we’ll take any break that we can. Oil prices have shown some signs of struggling last week after coming within arms reach of $80 per barrel before falling closer to $76, but all eyes are on refiners as utilization remained seasonally weak, around 80% of capacity, meaning there’s less gasoline and diesel being produced. That’s why it’s just a matter of time before prices collide with rising demand and start to accelerate again.”
