SC gas prices on the rise in July
CHARLESTON, S.C. (WCSC) - GasBuddy’s daily survey of 3,028 stations in South Carolina shows that gas prices have been on the rise, not only this past week, but throughout the past month.
Analysts at GasBuddy say that South Carolina gas prices have risen 1.2 cents per gallon in the past week and are averaging $2.86 per gallon Monday.
While they’ve only risen a little more than a cent the past week, prices in South Carolina are 10.6 cents per gallon higher than a month ago and stand 94.3 cents per gallon higher than a year ago, GasBuddy says.
On Monday, price reports showed that the cheapest station in South Carolina is priced at $2.59 per gallon while the most expensive is $3.27 per gallon. A difference of 68 cents per gallon, down from last week’s 85 cent gap.
The national average price of gasoline has risen 1.3 cents per gallon in the last week and GasBuddy says it is averaging $3.16 per gallon Monday. Analysts say the national average is up 10.2 cents per gallon from a month ago and stands 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.”
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