Experts: SC could see average gas prices under $3 soon
COLUMBIA, S.C. (WCIV) - Gas prices in South Carolina continued their downward slide, dropping another 3.3 cents last week.
According to GasBuddy.com, the average price per gallon across the state is $3.12. Nationally, gas prices dropped another 2 cents last week, the website reported.
"The national average has now dropped to its lowest level since February, and with the end of the summer driving season nearing, we'll likely see gas prices continuing the downward trend," said GasBuddy.com Senior Petroleum Analyst Patrick DeHaan.
Including the drop in prices recorded Sunday, prices across the state are 8.5 cents below the same day one year ago and 17.3 cents below the same day one month ago.
Nationally, the average price has dropped 13.2 cents per gallon in the last month and 8.5 cents below the same time one year ago.
"Oil prices last week dropped to $95 per barrel briefly before rising the next day back to $97 per barrel, but the important factor is that prices remain under triple digits. For motorists, we're nearing the point that gasoline demand drops -- after Labor Day -- and also the upcoming switch back to cheaper winter gasoline will also put downward pressure on prices in mid-September. While a short term increase in gasoline prices is never out of the question, as we grow nearer to September, the likelihood of a spike decreases. It won't be long before we'll start to see a few cities seeing averages under $3 per gallon: areas of Tennessee and South Carolina are already getting close," DeHaan said.