Here’s where to find the cheapest gas prices in the Midlands
Gas prices in South Carolina, and beyond, have spiked in recent weeks as oil markets reacted to a sudden disruption in the Strait of Hormuz — a critical global shipping lane for crude.
A recent ceasefire between the U.S. and Iran, however, has helped push oil prices down and could bring motorists some relief as soon as this weekend, a longtime fuel market analyst said.
Patrick DeHaan, who said he’s covered and studied oil markets for about 20 years, attributed the gas run-up primarily to turmoil around the strait, which typically sees about 20 million barrels of oil pass through daily.
“A lot of what we’ve been watching here the last few weeks is because the price of oil has surged dramatically in light of the Strait of Hormuz, essentially, being blocked by Iran,” DeHaan said in an interview with The State.
With less oil reaching global customers, he said, the supply-and-demand balance tightened quickly, causing prices to surge.
But DeHaan said oil prices fell sharply Wednesday as a ceasefire changed market expectations.
After President Donald Trump delayed a threat to Iran by two weeks, oil prices dropped by 15% Wednesday to below $93 a barrel.
“The ceasefire has changed the risk calculus,” he said, adding that traders are now betting the sides could keep talking and avoid further escalation — though he cautioned the situation remains “very fragile.”
Gas prices in and around Columbia
Regardless of the ceasefire, gas prices in the Columbia metropolitan area have remained lower than surrounding areas, according to data from Gasbuddy.com.
For example, regular gas at Murphy’s USA on Two Notch Road was priced at $3.59 per gallon Tuesday compared to a Shell gas station in Irmo, which was at $3.77 per gallon.
On average, gas in Chapin was listed at $3.79 per gallon, $3.78 in Blythewood, $3.67 in Elgin and $3.74 in Hopkins, according to data from Gasbuddy.com.
In the Midlands, prices can vary widely even within a short drive — and urban areas can sometimes be cheaper than rural communities, DeHaan said, largely due to competition and how quickly stations turn over their fuel supply.
In smaller or less competitive markets, he said, stations may sell less gasoline and could still be pricing fuel bought earlier at higher wholesale costs.
“Generally, we see more stations in urban areas than rural, and so that can inspire more competition,” DeHaan said.
If, however, the downward trend in oil holds, drivers could soon begin seeing lower gas prices overall.
“Oil prices are plummeting today, and we should start to see lower prices by this weekend,” DeHaan said.
This story was originally published April 8, 2026 at 3:16 PM.
