Columbia, SC (WLTX) -- We've all noticed it over the last couple of weeks... In the daily drive to and from work, prices at the Midlands area gas stations are slowly but surely creeping down.
AAA of the Carolina confirms all our suspicions: South Carolinians are paying the lowest prices at the pumps in over a month, and for the month of July, prices are less per gallon than the were a year ago.
"Falling gas prices keep dollars in motorists' wallets,' said David E. Parsons, President & CEO of AAA Carolinas. "As we rely less on overseas oil, and at the same time consume less at home with more fuel-efficient cars, we have a perfect storm for declining prices at the pump."
Gas prices now are $0.21 less than they were during the Memorial Day weekend, currently averaging $3.24 per gallon compared to $3.38 a month ago.
The price drop, happening not just locally, but nationally as well, can be attributed to record-level domestic refinery production of North American oil. This has created an abundance of gasoline domestically, driving prices down with the increased supply.