Gasoline Continues to be Cheaper in the U.S as Refiners Flush Out Winter Grade Stocks
The crude oil glut continues and so do the lower gasoline prices at the pumps in the United States. Refiners flush out winter-grade stocks in order to get ready for further expensive blends in summer.
According to GasBuddy, in the past week, the average gasoline price in South Carolina dipped an added 2.8 cents to an average of $1.56 per gallon. Compared to one year back, the gasoline prices are approximately forty cents lower.
Last week, gasoline prices dropped 5.2 cents per gallon nationally to an average of $1.74 per gallon which is approximately 43 cents lower compared to one year back.
Patrick DeHaan, GasBuddy senior petroleum analyst said, "Refiners will continue selling any winter-spec gasoline at bargain basement prices to rid themselves of it before specifications change heading into summer. In the days ahead, expect this seasonal 'clearance sale' of gasoline to continue, leading to lower prices in most areas."
However, he also cautioned the motorists not expect the drop in prices for very long as they are expected to rise as soon as the winter gasoline is exhausted.
Currently, Oklahoma motorists enjoy the lowest prices right now at $1.42 per gallon.
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