The Times and Democrat - Gas prices drop for Labor Day weekend

LARRY HARDY/T&D Henry’s SOC on U.S. Highway 301 posted a price of $2.539 for a gallon of regular unleaded gasoline on Thursday. Several factors, including the diminished threat of Tropical Storm Ernesto, have contributed to the decline in gas prices.

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Gas prices drop for Labor Day weekend

Friday, September 01, 2006

T&D Staff Report

Motorists hitting the road for the long Labor Day weekend will see gasoline prices throughout the T&D Region down as much as 40 cents compared to post-Hurricane Katrina Labor Day 2005 prices.

The least expensive regular unleaded self-serve gasoline in the T&D Region Thursday morning sold for $2.499 at Fogle’s Piggly Wiggly in Neeses. The average price for a gallon of self-serve regular unleaded was $2.595, according to a T&D survey of 37 gas stations.

In Orangeburg, the least expensive gasoline sold for $2.53 at six stations.

The prices are down about 20 cents from a T&D survey taken three weeks ago and are much different from those seen a year ago in the wake of Hurricane Katrina.

Post-Katrina Labor Day gasoline prices in Orangeburg were as low as $2.89 a gallon and as high as $3.39 a gallon at several stations. Supply concerns due to damaged pipelines along the Gulf Coast forced prices up, with Orangeburg gasoline prices averaging over $3 a gallon last year.

Falling prices have been the norm for the area due to the relative stability as the threat of Tropical Storm Ernesto diminished and tensions in the Middle East abated.

The reduction in gasoline demand and the elimination of federal clean fuel requirements also have contributed to the falling prices.

Crude oil prices have dropped to below $70 a barrel for the first time in about two months.

As a result, South Carolina’s gas price average has fallen to $2.622, the lowest average seen since June 30.

Compared to Labor Day last year, the state’s average is down 48 cents from $3.15.

Labor Day weekend last year began with a South Carolina average of $2.45, but quickly ran up to new records of $3.15 by Monday, Sept. 5.

Hurricane Katrina made landfall in the Gulf Aug. 29.

AAA Carolinas, an affiliate of the American Automobile Association, says those driving this weekend will find the most expensive gas prices in South Carolina in Myrtle Beach at an average $2.78 a gallon, while the lowest can be found in Spartanburg at $2.54.

Holiday auto travelers will find gas prices nationwide currently averaging $2.85 for a gallon of self-serve regular gasoline. This is down 21 cents from this same time last year, according to AAA Carolinas.

Holiday travel is projected to increase 2.3 percent over post-Katrina travel last year, according to AAA Carolinas. More than 400,000 South Carolinians are expected to drive more than 50 miles from home this holiday weekend.

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