CHARLESTON, SC (WCIV) — According to GasBuddy, a national survey of gasoline prices, and their review of 3,028 gas stations in the Palmetto State and 150,000 gas stations nationwide, gasoline prices in South Carolina have fallen sharply over the past week, with a seven-cent per gallon drop since last week.
The new average price on Monday is 3.02 cents per gallon.
The national average price has also fallen, now at $3.41 per gallon, down 3.2 cents from last week, Gasbuddy reported.
This week’s price drop follows a long-term price decline: Gasoline in South Carolina is 25.6 cents cheaper than a month ago and 43.9 cents cheaper than a year ago.
Nationwide diesel prices have also fallen, reaching $3.72 per gallon this week, the lowest price since January 2022, Gasbuddy reported.
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“As the summer season slowly winds down, we continue to see gasoline prices falling in most parts of the country as demand remains subdued. Incredibly, the price decline has also caused diesel prices to fall to their lowest levels since the Russian invasion of Ukraine,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “As long as we can avoid a major hurricane threatening refineries in the Gulf region, I believe the price decline could continue this week, with the national average potentially falling to its lowest levels of the summer. However, if economic data comes in better than expected, a short-lived recovery could still occur. While some states, particularly in the Great Lakes and Florida, could also see gasoline prices rise due to routine price fluctuations, overall prices remain lower across all states than they were a year ago.”
According to Gasbuddy, gasoline prices in South Carolina have been lower than the national average for at least ten years.
