Rising S.C. gas prices decelerate as Midwest recovers from snow

Rising S.C. gas prices decelerate as Midwest recovers from snow
GasBuddy says their daily survey of 3,028 stations in South Carolina showed an average price of $2.46 per gallon. (Source: Live 5/File)

CHARLESTON, S.C. (WCSC) - South Carolina gas prices have risen 4.6 cents per gallon in the past week, compared to 14.7 cents the week prior.

GasBuddy says its daily survey of 3,028 stations in South Carolina showed an average price of $2.46 per gallon. Gas prices in South Carolina are 29.6 cents per gallon higher than a month ago and stand 31.2 cents per gallon higher than a year ago.

According to GasBuddy price reports, the cheapest station in South Carolina is priced at $1.99 per gallon, Monday, while the most expensive is $2.75 per gallon. This is a difference of 76.0 cents per gallon.

GasBuddy says the national average price of gasoline has risen 7.5 cents per gallon in the last week, averaging $2.72 per gallon Monday. The national average is up 30.3 cents per gallon from a month ago and stands 30.6 cents per gallon higher than a year ago.

In Spartanburg, prices are averaging at $2.48 per gallon, up 9.3 cents per gallon and in Columbia, prices are sitting at $2.47 per gallon.

”Gas prices continued to surge last week following cold weather related shutdowns in Texas, but going forward, the impact from the cold has likely run its course,” GasBuddy Head of Petroleum Analysis Patrick De Haan said. “However, several other factors will rise in their influence on gas prices again, including the fact that gasoline demand continues to pick up steam.”

De Haan said that the price increase from last year has primarily been driven by decrease in American production. He says that the number of oil rigs active in the U.S. stands nearly 50% lower than a year ago, which is a large factor driving prices up.

This week, OPEC will be meeting to hopefully increase oil production to temper the rise in prices, but De Haan says consumers are worried they won’t increase oil production enough to match the growing appetite of a global economy.

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