U.S. Gasoline Prices Decline for Second Week, South Carolina $2.72, Virginia $3.03, Amarillo $2.59 per Gallon

Gasoline prices across multiple U.S. states have declined for the second consecutive week, reaching some of the lowest levels since the COVID-19 pandemic. The national average price of gas dropped to $3.09 per gallon, with 47 out of 50 states experiencing weekly decreases. In South Carolina, prices fell by nearly 50 cents compared to last year, currently averaging $2.72 per gallon. Similar downward trends were observed in Birmingham, Alabama, where prices are 43.2 cents lower year-over-year, and Chattanooga, Tennessee, where prices decreased by 6 cents from the previous month and are 58.8 cents lower than last year. Michigan and Virginia also saw notable declines, with Virginia’s average price falling 9.9 cents over the past week to $3.03 per gallon. In Amarillo, Texas, gas prices dropped 11.7 cents to an average of $2.59 per gallon. Price cycles are anticipated this week, with states like Indiana, Ohio, and Michigan showing the largest weekly price drops of 12.1 cents, 11.7 cents, and 10.8 cents respectively. Despite OPEC increasing oil production, oil prices remain slightly elevated, but this has not prevented the downward trend in gasoline prices at the pump.