Gas prices in South Carolina continue downward trend as Labor Day approaches

(WCIV) — The average price of gas dropped slightly this week continuing a downward trend as Labor Day approaches.

According to GasBuddy’s survey of 3,028 stations in South Carolina, gas dropped 2.7 cents per gallon in the last week, averaging at about $2.72 per gallon at the pump Monday.

Prices sit at approximately 8.0 cents per gallon lower than a month ago and 30.7 cents per gallon lower than a year ago.

GasBuddy price reports state that the cheapest station in the state was priced at $2.39 per gallon Sunday while the most expensive was $3.49, a difference of slightly over a dollar.

Meanwhile the national average price of gas is unchanged in the past week, staying strong at an average of $3.09 per gallon Monday.

This total price is down 4.6 cents per gallon from a month ago and stands 27.9 cents per gallon lower 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.

Patrick De Haan, head of petroleum analysis at GasBuddy, states that prices will likely remain the same through the end of the month, however some major developments could disrupt this prediction.

“For the majority of motorists in non-cycling states, gas prices will likely remain near current levels as we head toward Labor Day. However, it’s worth watching developments around a potential peace deal between Russia and Ukraine. If such an agreement materializes, it could send oil prices lower on expectations that sanctions against Russia might be eased, effectively boosting global oil supply,” said De Haan.