HORRY COUNTY, SC (WMBF) - Gas prices will certainly spike during the summer travel season.
For South Carolinians, they will also have to prepare for a gas sales tax increase, which goes into effect July 1.
So many will be watching the pump closely and looking for ways to save money. According to Gas Buddy, gasoline prices are currently the highest they've been in more than 19 months and will continue to increase as the summer travel season approaches.
In April, Gas Buddy issued a new study that found the best and worst days of the week to buy gas when it comes to optimal savings.
According to the study, Monday is best day to fill up. Jessica Prouty, marketing and public relations for Gas Buddy, said that's the best day for drivers in South Carolina to fill their tanks.
Company officials said they analyzed three years' worth of fuel price data and found that Monday offers the lowest average, making it the best day to fill up. Thursday is the worst day to buy gas, having the most expensive average.
However, the best day depends on what part of the country drivers are located.
While drivers can save money by filling up on Mondays, Gas Buddy said they can save even more if they also do some price shopping.
"The rise in average prices towards the weekend could be to blame on an influential report from the Energy Information Administration (EIA) issued weekly on Wednesdays, which could push prices higher the day after, depending on if data in its report is as expected or a surprise," said Patrick DeHaan, senior petroleum analyst at GasBuddy. "Since commodities trading isn't active over the weekend, it typically allows stations to 'let it ride' over the weekend, culminating in lower prices by the start of the work week."
To put the amount of savings into perspective: if every U.S. motorist bought gasoline on Thursday for an entire year, they'd collectively spend an extra $1.1 billion versus filling up on Monday – the lowest priced day of the week.
By shopping around and optimizing the usage of gas price data in the free GasBuddy app, motorist can save on average $325 a year.
For more information, click here.