Ida closes Colonial Pipeline, gas prices expected to rise 15 cents
CHARLESTON, S.C. (WCSC) - While South Carolina gas prices have fallen 1 cent per gallon in the past week, GasBuddy analysts say Hurricane Ida will ramp prices back up.
GasBuddy’s daily survey of 3,028 stations in South Carolina shows that prices are averaging around $2.83 per gallon Monday.
Analysts say gas prices in South Carolina are 4.1 cents per gallon lower than a month ago and stand 84.0 cents per gallon higher than a year ago.
According to GasBuddy price reports, the cheapest station in South Carolina on Monday is priced at $2.54 per gallon while the most expensive is $3.16 per gallon, a difference of 62.0 cents per gallon.
Across the nation, the average price of gasoline has fallen 2.2 cents per gallon in the last week and GasBuddy says prices are averaging at $3.12 per gallon Monday. Analysts say the national average is down 2.9 cents per gallon from a month ago and stands 90.1 cents per gallon higher than a year ago.
“While the national average price of gasoline declined yet again over the last week, Hurricane Ida has been causing countless disruptions to critical infrastructure, including oil production, refineries and pipelines. We’re likely to see a reversal this week, but motorists need not be too concerned at this point,” GasBuddy Head of Petroleum Analysis Patrick De Haan said. “I expect the national average to rise in the neighborhood of 5-15 cents per gallon in the next couple of weeks- far smaller than the impact from Hurricanes Katrina and Harvey, but with damage assessments still to come, it’s possible we see slight deviation from that. While Colonial Pipeline shut Lines 1 and 2 as a precaution, it’s highly unlikely that this will cause any long-term disruption to fuel supply like we saw months ago after the company was hacked. The biggest question for refineries will be the flooding- which could alter the rise in gas prices, but the odds of a massive surge in gas prices nationwide are extremely low.”
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