Pump Prices Continue to Decline as U.S. Demand Dips

Staff Report From South Carolina CEO

Tuesday, June 12th, 2018

At $2.92, the national gas price average has dropped four cents since the beginning of June. Today’s average is three cents less than a week ago, six cents more than a month ago and 58 cents more expensive than a year ago.

“Gas prices continue to dip across the country, but remain nearly 50-cents more expensive than last summer in every state,” said Tiffany Wright, AAA Carolinas spokesperson. “The higher prices seem to be influencing driving habits. While consumer gasoline demand remains strong, it is slowing and not growing.”

South Carolina’s $2.58 average is the cheapest average in the country. It has gone down five cents since the start of June and four cents on the week. In North Carolina, the average ($2.74) has dropped four cents since the start of June. On the week, the state average has gone up one cent. 

“Since the heavy travels of Memorial Day Weekend, Carolinians seem to be staying home more,” said Wright. “The lower demand is allowing prices to drop across both states.”