Gas prices hit record highs as Myrtle Beach Spring Bike Rally revs up
MYRTLE BEACH, S.C. (WMBF) - Thousands of bikers are set to fill the Grand Strand for the final weekend of the Spring Bike Rally.
And while they fill the beach, they may not enjoy filling their gas tanks.
Fuel prices have recently climbed to record highs and show no signs of stopping.
“[A] friend of mine asked me to ride down with him. I hate to see him ride by himself,” said Tim Sexton, who rode down from Virginia. “I hadn’t really planned it.”
Sexton took off on an impromptu joy ride from Virginia all the way to Myrtle Beach so his friend Jeff wouldn’t have to experience Spring Bike Rally alone.
Jeff didn’t really need to twist his arm.
“Watch some music, go get something to eat, go get Harley parts and shirts,” said Sexton.
Of course, he may have needed a pinch when he got a look at the gas prices.
“Shocking really, that it would go this high,” said Sexton.
According to AAA, the national average hit $4.59 as of Thursday, and analysts at GasBuddy predict prices could keep climbing all the way up to $4.65 by Memorial Day weekend.
“That’s going to be a big jump from last year. In fact, 51% increase on the average price for Memorial Day this year from last year,” said Patrick DeHaan, a petroleum analyst at GasBuddy. “It’s going to be the most expensive Memorial Day that we’ve ever seen.”
The most expensive Memorial Day coming off the most expensive Spring Bike Rally.
Mike and Sheryl Hill from Savannah say they put in hundreds of miles not only to get to Myrtle Beach, but also once they get here cruising up and down throughout the week.
As high as gas prices are, they’re just happy to have Spring Bike Rally.
“We’ve been north and south, all up and down,” Mike said. “On a motorcycle, you don’t see the difference.”
GasBuddy reports a shortage of supply coupled with several refineries closing down as the biggest contributing factors to the high prices, which means they could be here to stay for a while.
Sexton isn’t going to let that keep him from revving the chopper.
“You’re like, I just can’t wait to ride, can’t wait to ride,” he said. “When you get a good day you’ve got to take advantage of it.”
A J.P. Morgan study projected some gas prices could go as high as $6.20 by August.
DeHaan, however, says they are not expecting it to go quite that high, but things are still set up to be an expensive summer on the roads.
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