Tension has eased in Iraq and likewise on motorists' pocketbooks as gasoline prices in The T&D Region plummeted for the third consecutive week.
Price declines of 10 cents a gallon for regular unleaded self-serve were not uncommon throughout the region bringing the approximate average price to $1.379 a gallon. This is the lowest seen here in about 2-1/2 months after reaching record heights.
Selected stations surveyed throughout the T&D Region Wednesday revealed the least-expensive gasoline sold for $1.339 in Orangeburg at Li'l Cricket at U.S. 301 and Highway 70.
The most-expensive gasoline at stations surveyed sold in Santee for $1.509 a gallon.
Filling up her 1991 Caprice at the Speedway near the U.S. 21 Bypass, Columbia resident Rita Shipman knows a thing or two about having to contend with high gas prices.
She often travels the 45 miles to Orangeburg to visit her mother at The Methodist Oaks, and on Wednesday morning, this trip was going to be an extended one. She was about to leave for Charleston to take her mother for a doctor's appointment.
Her travels have her glad "prices are going down."
"When the prices were going up, I remembered back in the early '70s when gasoline was 20 cents a gallon and gas stations had price wars," Shipman said. "I don't think we will ever see those days again, ... but it is still nice to see them going down."
While filling up his tank Wednesday morning, Orangeburg resident Ray Brodie expressed frustration and confusion at to the fickle nature of gasoline prices and the feeling of helplessness on the part of the consumer.
"Everybody has to live," Brodie said. "That is how they get you, because they know you are going to pay no matter what. Gas will always sell no matter what the price will be."
Brodie said the issue is further complicated by the war and its impact on prices.
"Why did the prices go up when the war started, and why are they going down now that the war is still going on?" Brodie asked. "I just don't understand."
Falling prices come as May crude futures on the New York Mercantile Exchange settled up 49 cents at $28.63 a barrel -- the highest in three sessions -- on medium volume earlier this week. During the latter part of last week, the contract closed up 68 cents at $28.14.
Most analysts predict the market won't begin an earnest move either way without some indication of when Iraqi exports will resume or whether the Organization of Petroleum Exporting Countries will trim output.
In the interim, the war is all but complete.
Brig. Gen. Vincent Brooks, spokesman for the U.S. Central Command, said Iraq's oil fields now fall within areas controlled by the United States.
"There is one well we discovered in the north in recent days that is still burning, and that will be addressed as soon as we can do so," he said.
Iraq has the world's second-largest proven crude reserves at 112 billion barrels, but its pipelines, pumping stations and oil reservoirs have suffered for years from a dearth of funds and lack of maintenance.
The United States normally imports approximately 273 million barrels of oil in any given year.
For now, the most near-term potential market driver is likely government and industry inventory reports, analysts said.
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 morning, April 16:
Orangeburg
-- Li'l Cricket at U.S. 301 and Highway 70: regular unleaded, $1.339.
-- Dodge's Store at U.S. 301 and Cannon Bridge Road: regular unleaded, $1.349.
-- Speedway, Boulevard St. and Carolina Ave., $1.349.
-- Hot Spot, John C. Calhoun Drive: regular unleaded, $1.349.
-- Henry's on U.S. 301: regular unleaded, $1.349.
-- Horizon E-Z Shop, Old St. Matthews Road: regular unleaded, $1.349.
-- Gaz-bah Exxon, Chestnut and Ellis: regular unleaded, $1.359.
-- Short Stop, Magnolia and U.S. 178: regular unleaded, $1.359.
-- Big D's Shell, Magnolia Street and U.S. 178: regular unleaded, $1.359.
-- Speedway, U.S. 21 and U.S. 21 Bypass: regular unleaded, $1.359.
-- Horizon E-Z Shop, Shillings Bridge Road: regular unleaded, $1.359.
-- Exxon, Charleston Highway: regular unleaded, $1.369.
-- Citgo Express Lane, Charleston Highway: regular unleaded, $1.379.
Neeses
-- Fogle's Piggly Wiggly, Highway 4 and U.S. 321: regular unleaded, $1.349.
Bamberg
-- 3-Way Food Mart, Main Street: regular unleaded, $1.379.
-- Horizon E-Z Shop West, U.S. 78 West: regular unleaded, $1.379.
-- Horizon E-Z Shop on U.S. 301 South: regular unleaded, $1.379.
Branchville
-- Horizon E-Z Shop, Freedom Road: regular unleaded, $1.379.
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, $1.399.
St. Matthews
-- Amoco, Highway 6: regular unleaded, $1.479.
T&D Staff Writer Gene Zaleski can be reached by e-mail at gzaleski@timesanddemocrat.com or by phone at 803-533-5551.