US Gas Prices Drop Amid Crude Oil Volatility
Gasoline prices declined across several US states this week, though AAA warns that crude oil prices exceeding $100 per barrel could trigger new increases.
Average gasoline prices fell across much of the United States over the past week, with the national average dropping 5.5 cents to $4.24 per gallon. In South Carolina, prices saw a significant decline of 20.9 cents, bringing the statewide average to $3.75 per gallon. Similar downward trends appeared in Georgia, where the average reached $3.74, and Florida, which averaged $4.11.
Patrick De Haan of GasBuddy attributed the general decline to state fuel tax suspensions and price-cycling markets. However, he noted that the outlook remains fluid and tied to geopolitical developments. Regional variations remained stark; for example, Brunswick, Georgia, recorded prices at $3.63 per gallon, while Putnam County, Florida, averaged $4.19.
Despite the recent dip, the AAA Auto Club Group warned that a 10% rise in crude oil prices last week pushed barrels above $100. AAA estimates that every $10 increase in crude oil can result in a 25-cent increase at the pump, suggesting that the current downward trend may be short-lived if oil markets remain firm.
