U.S. gas prices surge past $3 as summer travel season begins

Gas pump (FILE)
Gas pump (FILE)(WVIR)
Updated: Jun. 1, 2021 at 6:35 AM EDT
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MYRTLE BEACH, S.C. (WMBF) – Gas prices across the country are on the rise as more people take to the roads to kickoff the summer travel season.

According to GasBuddy, the national average price for gasoline has risen 0.6 cents per gallon in the last week, averaging $3.04 per gallon Tuesday.

The national average is up 14.3 cents per gallon from a month ago and stands $1.06 higher than a year ago.

In Myrtle Beach, gas prices have fallen two cents in the past week, averaging $2.79 per gallon Tuesday, according to GasBuddy.

But Myrtle Beach drivers are still paying 19.3 cents more than a month ago and $1.12 more than a year ago.

GasBuddy reports the cheapest station in Myrtle Beach is priced at $2.59 per gallon Tuesday, while the most expensive is $3.09, a difference of 50 cents.

Patrick De Haan, head of petroleum analysis for GasBuddy, released the following statement:

“With the summer driving season now officially begun, gas prices have clung to a $3 per gallon average on continued strong demand as Americans take to the roads amidst a continued economic recovery. Through Sunday, U.S. gasoline demand was very strong over the weekend, with Friday and Sunday both setting new Covid records for gasoline consumption for their respective day of week, according to GasBuddy data. While gasoline demand continues to recover, oil production has only slowly started gaining momentum after a very challenging 2020 forced oil companies to take several steps backward as prices and demand plummeted last year. While oil production is now moving in the right direction, we’re in catch up mode to searing hot gasoline demand, and the imbalance has pushed prices up notably. For now, there’s little chance of a backslide in gas prices, but a larger chance that this summer could boast near-record gasoline demand as Americans hit the road, but remain mostly stuck to the U.S. due to overseas travel challenges that persist.”

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