Gas Prices in Columbia Drop by Nearly 5 Cents

News Summary

Columbia residents can rejoice as gas prices in the Midlands have dipped by 4.8 cents per gallon this past week, bringing the average price down to $2.78. Month over month, prices are slightly lower, but nationally, they have climbed by 2.2 cents to $3.11. Locally, there remains a significant price variation across stations, and Columbia’s average is still above Missouri’s statewide average of $2.85. While some days bring lower prices, factors like crude oil supply and seasonal changes continuously influence gas prices in the region.

Gas Prices in Columbia Take a Tumble!

Hey Columbia! It looks like there’s some good news for your wallets as gas prices have dipped down by 4.8 cents per gallon in the Midlands over the past week. Yes, you heard that right! The average price for a gallon of gas now sits at $2.78 right here in our neck of the woods.

Month Over Month Changes

Comparing prices to a month ago, Columbia drivers can rejoice as we’re looking at prices that are almost 3 cents lower than they were just a few weeks back. But hold on—while we’re seeing a drop, on a national scale, things are moving in the opposite direction. The national average gas price has crept up by 2.2 cents per gallon, now resting at $3.11. Talk about a mixed bag!

Price Variations in Columbia

For those of you filling up around town, you might find it interesting there’s a huge spread when it comes to gas prices at different stations. The cheapest gas station in Columbia offers a price of $2.59 per gallon, while the priciest station is charging a whopping $3.29. That’s a steep 70-cent difference between the lowest and highest prices in the area. So, if you want to save some cash, be sure to shop around!

Holiday Cheer at the Pump

Last week, Columbia residents enjoyed the lowest Christmas Day gas prices since the pandemic hit in 2020, which is certainly something to cheer about. However, you might notice that the average cost of gas per gallon in Columbia is still higher at $2.96, compared to the statewide average in Missouri, which sits at $2.85.

Missouri Statewide Trends

Missouri’s prices have dipped by just a penny compared to last week but are still 5 cents higher than this time last year. It’s a slight improvement, sure, but still more than what you might want to pay at the pump. When we zoom out and look at the broader picture, the national average for regular unleaded stands at $3.14. That’s an uptick of 2 cents from last week, keeping it pretty stable when compared to a year ago.

Understanding the Price Influences

So, what makes gas prices fluctuate like they do? Well, for starters, nearly 70% of the crude oil that the U.S. imports comes from our friendly neighbors to the north and south—Canada and Mexico. Additionally, the Energy Information Administration recently reported that while gasoline stocks have seen an increase of 2.2 million barrels, distillate inventories have dropped by 5.5 million barrels.

Let’s not forget, gas prices tend to change with the seasons. The switch to summer blend gasoline usually takes place in March and April, leading to price adjustments around those times. If you haven’t noticed yet, the average price of gas in the Midwest region is reportedly 4.6% lower than the national average. It seems we’re doing relatively well here in Columbia after all!

In Summary

While we all love to see lower gas prices, it’s clear there are many factors at play—including crude oil prices, seasonal demands, production levels, and even geopolitical events. Regardless, it’s always smart to keep an eye on those price tags when you’re heading out for a fill-up. Happy driving, Columbia, and may your tanks stay full while your wallets stay happy!

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Additional Resources

• ABC Columbia: Gas Prices Fall in SC
• KMIZ: Columbia Gas Prices Highest in State
• Columbia Tribune: Average Midwest Gas Prices
• Stacker: Gas Prices in Columbia Last Week
• Cleveland.com: Best Gas Prices Available
• Wikipedia: Gasoline
• Google Search: Gas Prices Columbia
• Google Scholar: Gas Prices Columbia
• Encyclopedia Britannica: Gasoline
• Google News: Gas Prices Columbia