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GAS SURVEY: Prices mimic rain, still falling

By The T&D Staff  Thursday, April 10, 2003

3 comment(s) | Default | Large

Like the recent rains, gasoline prices in The Times and Democrat Region continue to fall and are expected to do so through the summer months, U.S. Energy Department officials predict.

Falling crude oil prices and optimistic expectations about the war in Iraq are the driving forces behind the department's summer energy forecast which projects gasoline prices will average nationally $1.56 a gallon during the vacation driving season.

This is a substantially more optimistic forecast than was issued a month ago. Then, the department expected motorists to pay more than $1.70 a gallon throughout the summer.

The T&D's weekly gasoline survey appears to substantiate this projection.

For the third consecutive week, area gasoline prices dropped an average of 3.1 cents a gallon lowering the average price for regular unleaded self-serve here to approximately $1.459 a gallon.

Selected stations in the region revealed the least-expensive gasoline sold at the Shell E-Z Shop on U.S. 21 and Highway 22, the Hess on Highway 22 and the Phillips 66 Li'l Cricket off of Highway 22. All stations, which are near Interstate 26 exit 139, sold gasoline for $1.379 a gallon.

At the I-26 Bowman Exit 159, the Pilot and Phillips 66 Li'l Cricket also sold for $1.379. Both stations are on Homestead Road.

In Orangeburg, the least-expensive sold for $1.399 at four stations. See survey listing for more details.

The most-expensive gasoline at stations surveyed sold in Santee for $1.509 a gallon.

The report by DOE's Energy Information Administration cautioned that prices are likely to range widely in different parts of the country. It said gasoline prices in California, for example, are expected to be about 50 cents a gallon higher than the national average.

EIA Administrator Guy Caruso said the summertime anticipated average of $1.56 a gallon is still 17 cents a gallon higher than last summer but close to the prices that motorists paid at the pump in the summers of 2000 and 2001.

Gasoline prices dropped nearly a dime in the last three weeks when the national average was $1.73, the highest motorists ever have paid for gasoline. The EIA reported a price of $1.63 earlier this week.

The report said the gasoline price drop reflected the dramatic decline in crude oil prices in recent weeks. The price of crude, which hit a high of nearly $40 a barrel on Feb. 27, was around $28 a barrel on the New York Mercantile Exchange on Monday.

Despite the optimistic forecast, Caruso said there is an urgent need to increase gasoline inventories, which continue to be at levels below average.

"We've got an uphill battle to meet the inventory requirements," Caruso said. He said refiners are expected to increase gasoline production.

The EIA predicted gasoline demand this summer will increase slightly over last year but will remain below the average of the last five years.

Caruso said it seems reasonable to expect that Iraq's oil exports will not resume in any substantial amount for a number of months. He noted that military officials had said it might take seven months to get Iraqi exports -- about 2 million barrels a day -- back to normal.

Caruso also said the EIA's forecast assumed no dramatic decline in world oil production. He said OPEC should continue its current production levels of about 26.5 million barrels a day in order to increase U.S. inventories of both crude oil and gasoline.

OPEC ministers are expected to meet April 24 to discuss whether to cut back production because of the fear that oil prices otherwise would continue to decline.

As The T&D continues its weekly gas survey, we encourage readers to get involved.

If you know of a gasoline price consistently lower than those in our survey, let us know by e-mail at news@timesanddemocrat.com, by fax at 803-533-5595 or by phone at 803-534-1060. The prices must be consistently low for inclusion in the survey. Here are some of the prices found in the survey conducted Wednesday, April 9:

Orangeburg

-- Dodge's Store at U.S. 301 and Cannon Bridge Road: regular unleaded, $1.399.

-- Li'l Cricket at U.S. 301 and Highway 70: regular unleaded, $1.399.

-- Henry's on U.S. 301: regular unleaded, $1.399.

-- Horizon E-Z Shop, Shillings Bridge Road: regular unleaded, $1.399.

-- Horizon E-Z Shop, Old St. Matthews Road: regular unleaded, $1.449.

-- Speedway, Boulevard St. and Carolina Ave., $1.449.

-- Hot Spot, John C. Calhoun Drive: regular unleaded, $1.449.

-- Exxon, Charleston Highway: regular unleaded, $1.459.

-- Gaz-bah Exxon, Chestnut and Ellis: regular unleaded, $1.459.

-- Short Stop, Magnolia and U.S. 178: regular unleaded, $1.459.

-- Big D's Shell, Magnolia Street and U.S. 178: regular unleaded, $1.459.

-- Speedway, U.S. 21 and U.S. 21 Bypass: regular unleaded, $1.459.

-- Citgo, Charleston Highway: regular unleaded, $1.469.

-- Amoco, U.S. 301 and Elliott Street: regular unleaded, $1.479.

Neeses

-- Fogle's Piggly Wiggly, Highway 4 and U.S. 321: regular unleaded, $1.399.

Bamberg

-- 3-Way Food Mart, Main Street: regular unleaded, $1.479.

-- Horizon E-Z Shop West, U.S. 78 West: regular unleaded, $1.479.

-- Horizon E-Z Shop on U.S. 301 South: regular unleaded, $1.479.

Branchville

-- Horizon E-Z Shop, Freedom Road: regular unleaded, $1.479.

Santee

-- Horizon E-Z Shop, Highway 6: regular unleaded, $1.509.

-- Citgo, Highway 6: regular unleaded, $1.509.

St. George

-- Fast Point Food Store, on Highway 78 and Sears Street: regular unleaded, $1.459.

St. Matthews

-- Amoco, Highway 6: regular unleaded, $1.479.

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3 comment(s)
The following comments are reader submitted. They do not represent the views of The T&D or Lee Enterprises.

laura wrote on Apr 28, 2006 12:52 PM:

" ms. goldberg i am a student at a high school and we are learning about the holocaust. i felt disgusted by that man. it was a horrible experience but luckly you made out alive. "

Betty Jo wrote on Mar 19, 2006 1:51 PM:

" The Bennetsville judge not only laid down the law, literally, but sent fire from the bench in the form of admonishment. Cottingham said Garner's former profession of drug-dealing ruins innocent lives. "It will literally scramble a young child's brain," Cottingham How does this judge value his judgment on lack of Probable Cause and the effect it has on the lives of those two 17 year olds. Any brain could see that Hinson was dangerous to our society. I think the judge erred in his views of danger in society regarding Charles Hinsom. Yes,Gloren, I brought my cat, "Buddy" with me from Louisiana 2 days prior to Katrina, to Tennessee, that night a coyotee killed him. I did research on these citters, some say they are smart. I think less of them, they are sneaky, work in pairs, and have bad reports because of their dirty behavior. "

gloren wrote on Dec 17, 2005 9:47 AM:

" have any poeple killed coyotes and bob cats before because my dog got attacked by one "



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