Orangeburg regular unleaded gasoline prices are falling with the temperatures, reaching levels not seen locally since March 2007.

Prices have plummeted between 10 and 20 cents every week for the past month at region stations as oil prices on the international market have fallen to $65 a barrel. Oil peaked at $145 a barrel in July.

Regular unleaded gasoline prices at 21 Orangeburg stations surveyed Friday were averaging about $2.369 a gallon.

The least expensive self-serve regular unleaded sold for $2.289 a gallon at the Murphy U.S.A. at the North Road Plaza in front of Wal-Mart.

This is compared to record high prices seen around the area during the second week of September in anticipation of Hurricane Ike’s impact on oil refineries in the Gulf Coast region.

At that time, regular unleaded prices were averaging $3.949 a gallon at these same stations with the lowest station selling for $3.859 a gallon. Prices in Barnwell were selling around $4.99 a gallon.

Motorists experienced gasoline shortages for several weeks after the storm as supplies were interrupted. Supplies have since returned to normal.

Statewide, gasoline prices Friday were averaging about $2.27 a gallon.

While the average gasoline retail price across the nation is $2.55 a gallon, in some states including Texas, the pump price has gone down to $2 through Friday.

Oklahoma had gas averaging $2.06 a gallon, according to GasBuddy.com. The Web site encourages motorists to report on prices.

Weaker global demand for oil has caused the oil prices to drop by more than 50 percent.

The demand for gasoline has gone down, while consumers on their own adopted cost-cutting measures leading to an overall decline in oil and pump prices.

Experts forecast a continued drop in price.

According to the federal Energy Information Administration, the national average price has dipped for six consecutive weeks.

The average went down below $3 a gallon in early October.

The FIA reports American motorists reduced their driving in August by 6 percent to 254 billion miles compared to a year ago. The trend is expected to continue in the coming months despite the continuous drop in gas prices.

T&D Staff Writer Gene Zaleski can be reached by e-mail at gzaleski@timesanddemocrat.com or by phone at 803-533-5551.

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