Fuel prices drop in Carolinas; Myrtle Beach second lowest in both states

With the latest Energy Information Administration (EIA) reporting gasoline demand down 281,000 b/d from the week prior, retail gas prices are showing steady promise of returning to pre-hurricane rates.

On this day last month, gas prices in North Carolina averaged $2.64 while Oct. 9 they average $2.44 – a 20 cent drop over the month. On this day last month in South Carolina, gas prices averaged $2.56 while today they average $2.33 – a 23 cent decrease.

Prices are starting to plunge as refineries in the South East are beginning to operate at full capacity again. Full production coupled with efforts to deliver supplies at a higher rate have begun to restore gas station supplies to a more comfortable level. In addition, demand has gone down as road travel tends to lessen in the fall/winter season.

Hurricane Nate is not expected to slow oil productions or have an effect on the price of gasoline.

Below is a chart tracking the decline of prices as of October 9, 2017:

Myrtle Beach named among the most affordable fall destinations

This story was originally published October 8, 2017 at 11:10 PM.