Gas prices steady amid COVID recovery climb

Gas prices steady amid COVID recovery climb
GasBuddy says prices are averaging $2.59 per gallon, Monday and stand 1.4 cents per gallon lower than a month ago and stand 90.3 cents per gallon higher than a year ago. (Source: Live 5/File)

CHARLESTON, S.C. (WCSC) - GasBuddy’s daily survey of 3,028 stations in South Carolina reports gas prices have fallen 0.7 cents per gallon in the past week.

GasBuddy says prices are averaging $2.59 per gallon, Monday and stand 1.4 cents per gallon lower than a month ago and stand 90.3 cents per gallon higher than a year ago.

While the cheapest station in South Carolina is priced at $2.26 per gallon Monday, Price reports say the most expensive is $3.25 per gallon. This is nearly a full dollar difference across the state.

GasBuddy says the national average price of gasoline has fallen 2.1 cents per gallon in the last week, averaging $2.85 per gallon. They say the national average is down 0.5 cents per gallon from a month ago and stands $1.02 per gallon higher than a year ago.

“It has been a fairly tame last few weeks at the pump for most areas after a particularly active February and March when prices were screaming higher,” GasBuddy Head of Petroleum Analysis Patrick De Haan said. “After surging back then, we’ve seen the price increases fade, and while we haven’t seen much of a decline, prices have been holding near their yearly highs. For now, it feels like the risk of seeing the national average climb to $3/gal has been delayed by a recent surge in COVID-19 cases both here and abroad, limiting the upside to gasoline demand, but should things begin to improve, especially as we get closer to the start of the summer, we still have potential to see summer gas prices at their highest levels in years. Make no mistake, gas prices this year will be tied to the hip of the Covid situation.”

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