As Labor Day weekend approaches, people in Myrtle Beach can expect lower gas prices. Nationwide, gas prices have dropped significantly over the summer, according to Patrick De Haan, a Petroleum Analyst at GasBuddy.
De Haan mentioned that the national average gas price is currently $3.33, and he predicts it will drop to $3.27 during Labor Day weekend. However, in Myrtle Beach, the average price is even lower at $2.99—40 cents cheaper than last year and the lowest since March.
The lower prices in South Carolina are mainly due to the state’s lower gas taxes compared to other states. Although hurricane season could potentially disrupt gasoline supply from Gulf Coast refineries, De Haan noted that South Carolina benefits from the Colonial Pipeline, which helps keep prices down.
De Haan also said that Americans can expect this downward trend in gas prices to continue, with fluctuations here and there. He pointed out that this is the best Labor Day weekend for gas prices since 2021, as the country moves past the effects of COVID-19 and the war in Ukraine.
Additionally, De Haan suggested that Myrtle Beach residents might see prices drop by another 25 cents by Thanksgiving.