Carolina Gas Prices Reach Lowest Level of 2018

Staff Report From South Carolina CEO

Wednesday, December 5th, 2018

Gas prices across the Carolinas have set a new low in both states for the year, and they’re still dropping.

North Carolina’s $2.34 average is nine-cents less than a week ago, 29 cents less than a month ago and three-cents less than this time last year. South Carolina’s $2.10 average is 11 cents less than last week, 35 cents less than last month and 13 cents less than this time last year, with parts of South Carolina getting close to dipping below the two dollar mark.

"While the statewide average in South Carolina hasn't hit below $2 yet, several gas stations throughout the state are already below that mark," said Tiffany Wright, AAA Carolinas spokesperson. "Cheap crude oil prices are driving the fuel savings at the pump, as last week crude dropped to its lowest point of the year. However, this week’s Organization of Petroleum Exporting Countries meeting could cause crude prices to jump if the organization decides to reduce crude production.”

OPEC is expected to make an announcement on crude production at its December 6 meeting in Vienna, Austria. The scheduled meeting has not had a negative impact on pump prices so far.

Below is a breakdown of prices across the region:

The national average gas price drops to $2.46 and sets a new low price for the year and is cheaper than a year ago by two cents. The last time the daily national gas price average was cheaper year-over-year was 18 months ago on July 6, 2017 when gas prices were $2.24.