Myrtle Beach gas prices drop ahead of Christmas after expensive fall season for fuel
Locals and travelers to Myrtle Beach for Christmas will finally see some relief at the gas station after a volatile fall that saw some of the highest gas prices since the early 2010s.
In the last two weeks, gas prices in Myrtle Beach fell more than five cents to an average of $2.95 per gallon, according to GasBuddy, which tracks gas prices at thousands of stations nationwide. As of Monday, the cheapest station in the area was $2.70 while the highest was $3.24.
Despite the decline in Myrtle Beach, the average price per gallon in South Carolina went up by about one cent in the last week.
Myrtle Beach gas prices are 11.3 cents lower than a month ago but still more than $1 more expensive than the same time last year. Nationally, gas prices are down an average of 10 cents since Thanksgiving.
AAA estimates that 109 million Americans will travel for the holidays, which could translate to millions of dollars saved on gas if prices continue to decrease. The number of people traveling is a sharp increase from last year — 27.7 million more people will travel at least 50 miles from their home for the holidays. It brings Christmas travel to back to just 8% below where it was in 2019.
“Americans who canceled their vacations in 2020 want to gather with family and friends for the holidays this year, although they will still be mindful of the pandemic and the new omicron variant,” AAA Travel’s senior vice president Paula Twidale said in a press release. “With vaccines widely available, conditions are much different and many people feel a greater level of comfort with travel.”
In a news release, GasBuddy’s head of petroleum analysis Patrick De Haan attributed the stall and slight decline in gas prices to the surge in coronavirus omicron cases.
“The decline in gas prices will likely continue until new Covid cases slow down,” De Haan said in the news release.
If prices continue to decline, De Haan said that the nation could see Christmas gas prices stay just under their all-time high for that holiday — $3.26 in 2013.
“We got a Christmas gift that few should complain about: falling gas prices at a time of year when millions of Americans are spending their hard earned dollars on gifts for their loved ones. The last thing they should have to worry about is expensive gasoline,” De Haan said in a news release.
There is one possible exception to the decline. After gas prices in the Great Lakes states plummeted by up to 50 cents in some areas, those prices could go up a little if oil prices as a whole slow their fall.
“Beyond Christmas, with omicron cases likely to continue climbing, I do believe we’ll see a more noticeable hit on gasoline demand once the holidays are over,” De Haan said in the news release. “There’s a rising likelihood that we won’t see gas prices rising for the rest of the year.”
Here are how gas prices look elsewhere in the Carolinas.
- Fayetteville, N.C.: $2.97
- North Carolina: $3.07
- South Carolina: $2.98
This story was originally published December 21, 2021 at 5:00 AM.
