SC gas prices fall nearly 10 cents over past week

CHARLESTON, S.C. (WCSC) – Gas prices in South Carolina have fallen nearly 10 cents over the past week to an average of $3.16 per gallon.

The 9.5 cent drop makes gas prices 22.1 cents per gallon lower than a month ago and 17.4 cents lower than one year ago.

GasBuddy price reports show the cheapest station in the state was priced at $2.81 while the most expensive was $3.79, a difference of 98 cents per gallon.

In the Tri-County, the cheapest gas as of Monday morning was at a station in Charleston selling gas for $2.92 per gallon.

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“At long last, the decline in gas prices that we’ve been waiting to see has arrived, and the locomotive of falling prices has only recently started on a downhill, gaining momentum. However, some new caution signs have emerged with the recent attacks on Israel, potentially destabilizing a sensitive region. I’m hopeful the violence won’t spread, limiting the impact to these falling gas prices. Even with oil prices rising as a reaction to the attacks, I remain optimistic the national average could decline another 25-45 cents by late November, with prices falling potentially nearly triple that in California,” Patrick De Haan, head of petroleum analysis at GasBuddy, said. “Even the price of diesel has seen downward pressure with oil prices plummeting last week on fears that the Fed will be forced to continue raising rates, eating into demand growth, leading a barrel of crude to drop into the mid-$80s, but we remain concerned about a potentially destabilized Middle East and the potential impact to oil prices should the region see violence escalate.”

Nationally, the average price for a gallon of gasoline fell 10.2 cents over the past week to an average of $3.67. The national average is down 13.8 cents per gallon from a month ago and stands 25 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.

Nationally, the price for a gallon of diesel fell 4 cents to an average of $4.48 per gallon.

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