Gas prices continue to fall

Tuesday, April 16, 2013 8:16 AM
Last updated 6:48 PM
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Gasoline prices are dropping as demand for fuel has lagged since the year began.

AAA said the recent decreases came after the Commerce De­part­ment reported retail sales dropped in March and a report showed that consumer sentiment is at a nine-month low.

The lag in fuel demand has caused both OPEC and the Energy Information Administration to cut their global oil demand outlook for the year. This comes at a time when U.S. oil output is at a 20-year high and supplies are plentiful.

“Oil and gas prices will likely continue on this downward trend until stronger economic figures are reported, AAA spokeswoman Jessica Brady said. “Although the economic news is less than great, motorists will welcome the falling gas prices as the summer driving season begins.

A barrel of oil closed Friday at $91.61 on the New York Mercantile Exchange – $1.09 less than the week before. The national average price per gallon of gasoline is $3.52, nearly 40 cents cheaper than this time last year.

Georgia’s average is $3.37. Augusta has an average of $3.34.=

South Carolina’s average stands at the cheapest in the nation, $3.30 per gallon. Tennessee and Missouri, respectively, fall into second and third places.

According to reports in The State newspaper, gas prices in South Carolina are likely to fall under $3 per gallon – something that hasn’t occurred since 2010.

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nocnoc
49758
Points
nocnoc 04/16/13 - 07:30 am
4
1
Heard it before

Fool me once shame on you.
Fool me twice shame on me.

Obama said back in 2008, when asked about gas prices.
semi-quote ' the $4 a gallon is here sooner than I like to see...."

concercitizen
733
Points
concercitizen 04/16/13 - 09:57 am
6
0
Do not be fooled by this

Do not be fooled by this temporary drop in prices. It is only a ruse to lull the consumer into a state of complacency. Just when one starts to relax, the prices will go back up. It's like a roller coaster ride.

onethickdiva
1558
Points
onethickdiva 04/16/13 - 10:24 am
4
0
I gas up in SC

Its generally cheaper. Gregs right after you cross the river was $3.08 this morning.

Just My Opinion
6304
Points
Just My Opinion 04/16/13 - 10:28 am
2
1
Enjoy the South Carolina

Enjoy the South Carolina savings while you can because the are considering/planning on increasing their fuel sales taxes. Prices are lower because they have lower taxes now. They figure they're missing out on extra "free" money!

nocnoc
49758
Points
nocnoc 04/16/13 - 03:11 pm
3
0
SC stalled the price hike

Their politico's figured out that GA, & NC border residents all come to SC to shop and purchase gas. What little they lose in Gas Taxes are made up in increased store sales,the boost to the local economies and the fact out of state shoppers don't stick around and wear out the roads.

Our family likely spends well over $4,500 a year in North Augusta on cheaper gas and shopping. In doing so we avoid the Fred Russell Downtown Feeding Taxes.

Augusta has taxed itself out of the market.

debby
12
Points
debby 04/16/13 - 04:39 pm
3
0
Elberton gas prices

I travelled through Elberton, GA on my way home to Grovetown from Spring Break vacation Monday morning. Gas prices in Elberton were 3.08 per gallon. Too bad all the stations were closed at 5 a.m.

KSL
144846
Points
KSL 04/16/13 - 08:54 pm
1
0
Just My

It couldn't be because SC needs the money?

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