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COLUMBIA (WACH) -- Gas prices in Columbia are showing a refreshing downward trend.

According to ColumbiaGasPrices.com, the price of a gallon of unleaded in the Midlands averages at $3.38.  That's down 2 cents from yesterday and 4 cents since the same time last week.

But the good news is that the Palmetto State ranks well below the national average of $3.52.

Earlier this week, WACH Fox News looked into why the price of gas at the pump seems so quick to increase but takes so long to come back down after the price of wholesale gas drops.

“Any time you see a drop on the wholesale level, you are ultimately going to see a drop on the retail level,” explained Michael Fields of the South Carolina Petroleum Marketers Association.

He adds it’s only a matter of time, and the price at the pump depends on a variety of things.

Oil is one of the biggest factors in fuel costs and oil prices can rise and fall in a matter of seconds.

“A lot of what we’re seeing today has to do with the oil spike that took place a couple weeks ago in that stations weren't able to raise their prices fast enough on the front end, so they are trying to make up for that,” Fields says.

The profit margin on a gallon of gas only amounts to a few cents and Fields points out that it is one of the only products that consumers will drive away from to save a penny or two.

“Ultimately competition is going to dictate how fast those prices go down,” Fields says.

Rely on our Pain at the Pump page for the latest gas prices in your neighborhood.  Remember, the data is fed by users like you so be sure to put in the most recent price you paid.