Gas Prices Fall Below 2011 Levels

COLUMBIA, S.C. (WOLO) — Gas prices are down. “They are actually down ten cents from last year,” says Sam Torres, Branch Manager at the AAA office on Forest Drive. Torres says with gas prices down, more people are looking to get away. “Our cruises and tours are starting to pick-up, the airlines are still a little bit high due to the gas, but we’re looking forward to that coming down,” says Torres. Crandall Sims reporting, “According to AAA, this time last year the average price for gas in South Carolina was $3.69 per gallon. Today that average is just below $3.60, but as you can see behind me at this gas station on Devine Street, it’s even lower at $3.56 per gallon.” But what’s causing the drop? Dr. William Hauk, Economics professor at USC says global demand plays a big role. “Europe seems to be going back into a recession. In China growth is slowing. In the United States, we’re growing but very slowly, the recovery hasn’t really kicked in to high gear,” says Dr. Hauk. And if you’re enjoying the lower prices, you can continue to do so at least for a short while. “It may be relatively low throughout the summer, at least off the highs we’ve seen in recent months,” says Dr. Hauk. When it comes to the recent $4.00 per gallon scare. Dr. Hauk says, they may not happen. “I don’t see prices spiking up higher, for seeably right away, but there’s always stuff that can happen, so I wouldn’t say no chance,” says Dr. Hauk. In the meantime, drivers will pay less to hit the roads and travel agents will most likely book more vacations. “We’re anticipating a higher travel year over 2011,” says Torres. AAA also reports South Carolina has the nation’s 4th lowest average gas price, trailing Missouri – $3.53, Oklahoma – $3.54 and Kansas – $3.58.