GasBuddy survey of 3,028 SC gas stations finds prices plunged 20.9 cents per gallon
(WCIV) — The average price of gas in South Carolina dropped a steep 20.9 cents per gallon in the past week, with continued price outlooks heavily reliant on geopolitical developments.
According to GasBuddy’s survey of 3,028 stations in South Carolina, gas prices in the state dropped 20.9 cents for a new statewide average of $3.75 per gallon Sunday. This recorded price is reportedly 29.2 cents per gallon lower than a month ago but still $1.11 per gallon higher than a year ago.
GasBuddy price reports state that the cheapest station in South Carolina was priced at $3.48 per gallon yesterday while the most expensive was $4.59 per gallon, a massive difference of $1.11 per gallon.
“Average gasoline prices declined in the vast majority of states over the last week, led by a combination of state fuel tax suspensions and price-cycling markets working their way back down,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
Meanwhile the national average price of gas fell 5.5 cents per gallon in the last week, for an average of $4.24 per gallon as of Monday.
The national average is down 23.0 cents per gallon from a month ago and stands $1.26 per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.
Looking forward the gas price forecast looks uncertain, however geopolitical developments are sure to continue to play a significant role in what gas costs, even all the way in South Carolina.
“For now, the outlook remains tied to geopolitical developments, and some price-cycling states could see upward swings in the days ahead if oil markets firm at all. Motorists in states that benefited from tax suspensions may continue to see some insulation from broader market pressures, but the overall picture remains fluid,” said De Haan.
