Cost of gas spikes in SC, but prices still among lowest in natio - wistv.com - Columbia, South Carolina

Cost of gas spikes in SC, but prices still among lowest in nation

(Source: WISTV) (Source: WISTV)
COLUMBIA, SC (WIS) -

South Carolina saw the highest spike in gas prices last week, but it still has some of the lowest gas prices in the country.

That's according to a study from gasbuddy.com. The web site says the national average is now at $2.35 per gallon, the highest level since June. Crude oil prices are near $50 per barrel.

Despite tying Mississippi for the lowest gas prices in the country at an average price of $2.09, South Carolina also saw the largest weekly increase in gas prices at seven cents. 

“For the third straight week, gasoline prices have accelerated with the national average at its highest level in over eight weeks, driven by rising oil prices as inventories continue to tighten and concern over Venezuela lingers,” said Patrick DeHaan, senior petroleum analyst for GasBuddy. “Looking behind us, however, gas prices have remained in a relatively tight range for the last year, staying within a 30-cent wide range. While we’re likely to see gas prices continuing to move higher in the week ahead as they catch up to oil, we’re unlikely to break out of the well-established rut in the national average which has kept prices between $2.12 and $2.42 for the last 15 months.”

"Gasoline prices are likely to continue to their widespread increase in the days ahead, with gasoline prices in the volatile Great Lakes likely to rise in the next few days, which may contribute to a 2-3 cent rise in the national average in the week ahead," said the web site. "Prices are also likely to continue advancing in the West Coast, Rockies, Gulf Coast, Midwest, Southeast and Northeast."

Copyright 2017 WIS. All rights reserved. 

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