Greenville gas prices plunge 10 cents in week - FOX Carolina 21

Greenville gas prices plunge 10 cents in week

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A Greenville driver fills up his tank at a gas station. (File/FOX Carolina) A Greenville driver fills up his tank at a gas station. (File/FOX Carolina)
GREENVILLE, SC (FOX Carolina) -

Gas prices in the Greenville area fell 10.3 cents last week, according to GasBuddy.com.

The price-tracking website reported Monday the average cost for a gallon of gas in the Greenville area was at $3.29 - 38 cents lower than the national average of $3.67, which fell nine cents from last week.

Locally, the price was 18.7 cents lower than last month, but 9.1 cents higher than last year. Nationally, the prices was down 14.2 cents from lat month, but up 20.1 cents from last year.

Experts said a significant drop in prices, like this one, does not happen very often.

"Only one other time in the last few years have we seen the national average drop so significantly in the course of just a week, and that other time was in May 2011," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan. "Looking back at our data, we only see that prices dropped considerably more in autumn 2008 when the economy slipped into a recession. Given the circumstances with this latest weekly decrease- that it has nothing to do with recession- is significant."

AAA reported the average cost for a gallon of gas was at $3.39 in South Carolina, $3.61 in North Carolina and $3.52 in Georgia.

According to GasBuddy.com, Oklahoma had the nation's cheapest gas, while Hawaii had the nation's most expensive fuel.

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