Gasoline Prices in Southeastern Parts of the US Drop

Refineries in the Gulf Coast are working at high volume and crude oil prices are becoming stable. These two factors cause gasoline prices to fall in the Southeast.

The most recent average cost of gasoline in Anderson City is $3.56 per gallon. That is almost ten cents lower compared to the past couple of weeks. Moreover, the latest market data shows that the average in Greenville has fallen by 6 cents in the previous week, and the national average dropped by 2 cents to reach $3.85 per gallon.

GasBuddy.com’s Senior Petroleum Analyst, Mr. Patrick DeHaan, said that the recent decline in the national average of gasoline prices is the first major reduction since the month of December.

Oil analysts think that the drop in prices will go on. In the coming days, DeHaan anticipates the national average in the United States to be lower compared to its rate last year. According to DeHaan, two factors caused the recent fall in gasoline prices.

One is the increase in the production of refineries during the latter parts of March. Another is the recent drop in crude oil prices by almost $5 per barrel. Bloomberg market data shows that the latest Brent crude price is around $118 per barrel.

GasBuddy.com said that South Carolina is the fifth state with the most affordable gas after Oklahoma, Wyoming, Kansas and Missouri. The state joins other regions in the Southeast area that benefit from the refineries near the Gulf Coast, which run at a capacity of 85 to 89 percent compared to the 82 to 85 percent average capacity at the national level.

Around Greenville, South Carolina, unleaded gasoline prices at the start of the year are around $3.09. The highest level reached for the year was $3.69 last April 7. The figures are based on the statistics of the AAA in North and South Carolina.

By: Chris Termeer

Chris Termeer

Chris Termeer is an oil and gas consultant, industry commentator and analyst. His book, Fundamentals of Investing in Oil and Gas provides a comprehensive overview of all aspects of the oil and gas industry, including exploration, drilling, production, storage, transportation and refining, to name but a few.

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