Average gas prices
Columbia, SC
Year Gas Price
2002 $0.70
2003 $1.04
2004 $1.15
2005 $1.38
2006 $1.86
2007 $1.70
2008 $2.55
2009 $1.29
2010 $2.22
2011 $2.56
Cabs use a valuable commodity-gas!
Is there a trend in the data? Does there seem to be a positive correlation, a negative correlation, or neither?
Based on the data provided for gas prices in Columbia, SC from 2002 to 2011, we can observe the following trends:
- From 2002 to 2008, there is a clear upward trend in gas prices, rising from $0.70 to $2.55.
- In 2009, there was a significant drop in the price to $1.29.
- After 2009, prices started to increase once again, reaching $2.56 in 2011.
Overall, despite the fluctuation in 2009, there appears to be a positive correlation over the 10-year span, with gas prices generally increasing. This suggests that over time, the average gas prices in Columbia, SC have been rising. This trend is consistent with broader national and global trends in fuel prices, which generally saw an increase over this period due to various factors such as inflation, changes in crude oil prices, geopolitical events, and supply and demand dynamics.