Getting closer to July 4, usually means higher gas prices across the country.
In the past years we have seen this trend happening almost without exclusion and it happens again this year.
In the past few weeks, the prices were declining a little bit, but as we go to the end of June and getting closer to Fourth of July the trend of increasing prices is taking place.
According to GasBuddy latest analysis, gas prices in South Carolina have gone up for 4.6¢ per gallon over the past week. With the latest increase in prices, the average price in the state reached $2.80 per gallon.
Meanwhile, the national average price was increased by 2.5¢ per gallon on average for the same period. With the latest increase, the national average gas price is now settling at $3.09 per gallon.
“With oil’s continued push higher, fueled by continued strong demand globally and production only slowly answering, gasoline prices have had no choice but following the national average last week setting a new 2021 high,” said Patrick De Haan, head of petroleum analysis for GasBuddy.
“As we approach July 4, it appears the only way forward is for gas prices to continue their rise as Americans insatiable demand for gasoline continues to be the catalyst for the rise in price. With hurricane season soon coming into its prime, we have plenty of catalysts for a rise in price, and few that could restrain the situation. Motorists should prepare to dig deeper for the second half of the summer, unfortunately.”
Compared to last month, gas prices in South Carolina are 0.9¢ per gallon cheaper.
Compared to last year same period, gas prices in South Carolina are 88.6¢ per gallon higher.
Experts say the prices will go up in the next week as a result of the higher demand than usual.