SC gas prices lowest in nation

For the first time in 2010, the average price for a gallon of gasoline in South Carolina is currently cheaper than last year, according to AAA Carolinas. The average price is $2.474 per gallon and the state’s price is the lowest in the United States. The last time South Carolina drivers paid less for gasoline than the prior year was Oct. 27, 2009.

Brendan Byrnes with Triple-A Carolinas:

South Carolina is benefiting from two things:  1) The lowest gas in the nation, and 2) Prices that are below last year’s average at this time, for the first time this year.

Although it is uncertain if prices will continue to decline, Byrnes says we should not see $3 per gallon this summer, especially in South Carolina.

If summer travel demand increases heading into July 4th, that could push gas prices up. Or if a threat of a hurricane in the Gulf or if a hurricane actually touches down, that could also push gas prices up.

Byrnes says that the current financial crisis in Europe and subsequent strength of the dollar has helped push crude oil prices downward, which also lowers gasoline prices at the pump.

South Carolina is benefitting from the European financial crises in the lowering of oil prices which is trickling down to the pump, and we’re paying less for a gallon of gasoline than we were this time last year.

Byrnes says gas usage is about the same as last year, perhaps more.

I think the unemployment rate has dropped slightly. That always indicates an increase in summer travel. And we had forecast an increase in Memorial Day travel as well. So, I think consumer confidence is higher this year, so you’re more likely seeing more people on the roads this year than last year.

Byrnes says that throughout 2010, South Carolina prices have averaged 70 cents more than last year, and that’s been a big dip since May 6, to drop below last year’s average.

Byrnes says they have seen no effect on the prices as a result of the BP oil disaster in the gulf.

You know, some people have asked, but the oil spill and correlating six-month moratorium on off-shore drilling has had zero effect on the price of gas and will likely not have any effect in the near future.

Only Charleston-North Charleston gasoline prices are higher than last year at this time, higher by 5.3 cents. In other areas prices are lower: Columbia (-1.3 cents), Greenville-Spartanburg-Anderson (-2.5 cents) and Myrtle Beach (-5.7 cents).