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24/7 Wall St.: States with the Cheapest Gas

1. South Carolina

Regular gas price per gallon: $3.50

Tax per gallon: 16.8 cents (4th lowest)

Number of operating refineries: 0

Nowhere is gas cheaper than in South Carolina, where gas is 28 cents per gallon cheaper than the national average, and three cents cheaper than the second-cheapest state, Mississippi. Contributing to low prices are some of the lowest gas taxes in the country; South Carolina charges an excise tax of just 16 cents per gallon and other fees and taxes of only 0.8 cents per gallon. On September 15, 2008, prices hit their historical peak in the state, at $4.12. In June, gas prices fell below $3 per gallon.

(iStock Photo)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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