SC average gas prices fall 12 cents, 4th consecutive week of decline

CHARLESTON, S.C. (WCSC) - South Carolina drivers are seeing a fourth consecutive week of relief at the gas pump as the average price for a gallon of gas continues to fall.

GasBuddy’s survey of more than 3,000 gas stations in the Palmetto State showed a decrease of 12.1 cents per gallon, bringing the state’s average down the $4.14. That’s 44.7 cents less than a month ago and $1.29 higher than one year ago.

“The national average has declined for 27 days straight, or four weeks, the longest decline in average gas prices since the pandemic started in 2020. Average gas prices are down nearly 40 cents, with Americans shelling out $140 million less on gasoline every day than they did a month ago,” Patrick De Haan, head of petroleum analysis at GasBuddy, said.

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The cheapest station in the state as of Monday morning posted a price of $3.70 while the highest was $4.99, a difference of $1.29 per gallon.

The cheapest gas in the Tri-County as of Monday morning was at a station in Summerville selling gas for $3.91 per gallon.

The national average also fell for the fourth straight week, dropping 12.8 cents to an average of $4.66 per gallon, 34.4 cents less than a month ago and $1.54 higher than one year ago.

De Haan says, while the decline may continue, the possibility exists for a sharp reversal.

“We may see the trend last a fifth week, as long as oil prices remain cooperative and don’t surge beyond $105 per barrel, and as long as refinery production of gasoline remains strong,” De Haan said. “But we’re not completely out of the woods yet - we could also see a sharp reversal in the decline. There remains risk of a spike in prices that could send us to new record levels in August, should any disruptions occur. It could be a wild ride, but for now, the plummet at the pump shall continue.”