Augusta Economy

More News | Fort Gordon | Plant Vogtle | Savannah River Site | Editor

Area gasoline prices continue to drop

South Carolina has lowest average per gallon in U.S.

Friday, June 29, 2012 7:21 PM
Last updated Sunday, July 1, 2012 5:22 PM
  • Follow Latest News

The average price for a gallon of regular gas in Augusta has dropped 25 cents in the past month, according to the Daily Fuel Gauge Report from AAA, but a petroleum analyst predicts area prices will soon stabilize.

“For Augusta, I expect it to stay around the high $2, low $3 area for the rest of the summer,” said Patrick DeHaan, an analyst for GasBuddy, which tracks gas prices nationally. “Short of a major storm in the area during the tropical season disrupting things, I think they’ll stay in that range.”

Across the river, South Carolina boasts the lowest average gas prices in the United States, with an average of $2.94 a gallon Friday.

Lincolnton, Ga., resident Angela Herring, who works in Augusta four days a week, said she has noticed the price drop in Georgia but fills her tank in South Carolina.

“I drive over here every single time,” Herring said. “It’s just always cheaper.”

Where Herring fueled up, regular gas was $2.78 per gallon.

South Carolina is the only state in the U.S. with average prices below $3 a gallon. Nationwide prices have dropped 27 cents in the past month.

DeHaan said two major factors have driven the sudden drop in the prices of crude oil and, subsequently, gasoline.

The first, DeHaan said, were rising concerns about the U.S. and global economies. Disappointing job reports and the economic turmoil in Europe have hurt most markets, and crude oil has not been spared.

DeHaan also attributed the price plunge to a rising domestic supply of crude oil. The nation’s inventories, he said, are higher than they have been since 1990.

The prices in South Carolina, DeHaan said, are a result of the state’s low taxes on gasoline, According to an April report from the American Petroleum Insti­tute, South Carolina residents pay only 35 cents per gallon in state and federal taxes.

Georgians, by comparison, pay 48 cents per gallon, and the national average is 50 cents per gallon.

Year to date average gas prices in Augusta and nationally

Augusta Average

January- $3.28

February- $3.51

March- $3.70

April- $3.73

May- $3.38

June- $3.12

National Average

January- $3.37

February- $3.55

March- $3.83

April- $3.89

May- $3.72

June- $3.50

Source: Data from AAA, prices reflect the average cost of a gallon of regular gasoline, numbers rounded to the nearest cent.

Comments (3) Add comment
ADVISORY: Users are solely responsible for opinions they post here and for following agreed-upon rules of civility. Posts and comments do not reflect the views of this site. Posts and comments are automatically checked for inappropriate language, but readers might find some comments offensive or inaccurate. If you believe a comment violates our rules, click the "Flag as offensive" link below the comment.
dstewartsr
20389
Points
dstewartsr 06/30/12 - 04:55 pm
0
0
Unimpressive.

It's still 50% higher than when the Obamessiah was annointed. Or is that STILL Bush's fault?

bdouglas
5588
Points
bdouglas 06/30/12 - 09:19 pm
0
0
Can we just stop

Can we just stop regurgitating gas price articles? No matter what they keep reporting or predicting, the opposite ends up happening. When 'they' say gas prices are expected to fall, they end up going up. Before the summer try were saying the national average would be over $4/gal by the middle of summer and now this article says it'll stay around $3. Just give up already.

DuhJudge
206
Points
DuhJudge 07/01/12 - 11:25 am
0
0
Journalists believe that

Journalists believe that because they know how to pump gas, they are experts. If you live in Georgia you should buy gas in Georgia. Those are taxes you voted for, and your community depends on them. Local taxes went up today in fact even though the Governor left the state portion alone.

Back to Top

Top headlines

Georgia Regents' hospital plan chosen

Georgia Regents Medical Center won a lengthy and hardfought battle over two other Augusta hospitals to build the first hospital in Columbia County, the Georgia Department of Community Health ...
Search Augusta jobs