Are This Week’s Cheaper Gas Prices a Trick or a Long-Term Treat?

Staff Report From South Carolina CEO

Tuesday, October 30th, 2018

Gas prices across the Carolinas have been fluctuating throughout October, but have been steadily dropping as of late. At $2.67 in North Carolina, gas prices are the lowest they’ve been since Mid-September. South Carolina’s $2.52 average (one of the top ten cheapest in the nation) hasn’t been this low since August. But, the cheaper gas prices may just be a temporary treat for motorists.

Just like the outside temperature, motorists are seeing gas prices cool off. The last few weeks saw peak refinery maintenance season start to wrap-up and push less expensive gas prices, but the lower prices are not likely to be a long-term trend,” said Tiffany Wright, AAA spokesperson. “AAA expects that gas prices will likely start to increase as early as later this week ahead of the Nov. 4 Iran sanctions announcement and the mid-term elections.”

How expensive gas prices will be depends on how the market reacts to the early November events. However, motorists are not likely to pay summer prices this winter.