Gas prices rising trend continues in South Carolina, GasBuddy report

Columbia, South Carolina – Gas prices rising trend in South Carolina continues, according to GasBuddy’s weekly report.

The survey includes gas prices from 3,028 stations in South Carolina and it shows that gas prices have risen 1.2 cents per gallon in the past week and are averaging $2.86 per gallon Monday.

Although many predicted that the prices will start to go down after July 4^th, it turns out that prices are rising for several straight weeks now.

According to the report, gas prices in Palmetto State are 10.6 cents per gallon higher compared to last month this period and 94.3 cents per gallon higher than a year ago.

The highest recorder price in the state on Monday was $3.27 per gallon, while the lowest price was $2.59 per gallon.

The gap between the prices this week is 68 cents per gallon, down from last week’s 85 cents.

The national average gas price has increased for 1.3 cents per gallon now averaging $3.16 per gallon. National average price is 10.2 cents per gallon more compared to last month and 98.0 cents per gallon higher than a year ago.

“Gas prices across the country have been a bit sideways in the last week with a mixed bag of decreases and increases, but overall, the national average hasn’t seen much meaningful direction as oil prices remain under their early-July levels thus far thanks to OPEC coming to an agreement on production over the weekend,” GasBuddy Head of Petroleum Analysis Patrick De Haan said.

“OPEC’s plan is to raise oil production by 400,000 bpd each month until 2022, at which time OPEC’s oil production will be back at pre-Covid levels. It’s a positive development in light of U.S. gasoline demand which last week rose nearly 2%, which should act as a loose ceiling on the price of oil, and could mean we’re even closer to seeing a peak in the national average if we haven’t already.”