The current national average for a gallon of regular gasoline is $2.40, according to GasBuddy. However, as is nearly always the case, states that have large refineries, or are close to ones that do, have the lowest prices. In refinery-rich South Carolina, the average price has broken under two bucks and currently sits at $1.97 per gallon.
No surprise then that cities in South Carolina have some of the lowest gas prices in the nation. They include Columbia and Greenville at $1.96, as well as Myrtle Beach at $1.92 and Spartanburg at $1.90.
Other places across the south also are enjoying some of the nation’s lowest prices, now under two dollars many places as prices continue to drop. These include Augusta, Ga., and Birmingham, Ala., at $1.99. In Lubbock, Texas the per-gallon price is $1.94, and in Chattanooga, Tenn., it is $1.93. These places are in states that have taxes and levies on gasoline that are well below the national average.
Cities that could see average gas prices drop below $2 per barrel soon include Jackson, Miss., where it sits right at $2 per barrel on Labor Day, and even Toledo, Ohio, and St. Louis, Mo., which each have gas prices averaging about $2.02 per gallon.
U.S. motorists were expected to save more than $1 billion on gasoline over the holiday weekend, compared to 2014, with many drivers saving about $15 to $25 on every trip to the gas station, according to AAA. Avery Ash, a AAA spokesman, noted:
Americans should find good deals on gas prices in most parts of the country heading into the busy Labor Day weekend. It is unbelievable that drivers are ending their summer vacations with the lowest gas prices for this time of year in more than a decade.
Ash also said:
Gas prices in many parts of the country could fall below $2 per gallon by Christmas if the cost of crude oil remains low. There is good reason to believe that cheaper oil costs, a seasonal decline in driving and the switchover to less costly winter-blend gasoline will continue to push down prices through the end of the year.
ALSO READ: 13 of the 15 Cities With Highest Gas Prices Are in California
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.