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Gas prices plateau after previous weeks’ leaps

While February is typically a cheaper month for gas prices because fewer people travel, prices...
While February is typically a cheaper month for gas prices because fewer people travel, prices at the pump are on the rise.(Live 5/File)
Updated: Mar. 22, 2021 at 6:04 AM EDT
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CHARLESTON, S.C. (WCSC) - Gas Buddy says prices are beginning level out after the past few weeks have seen a steady rise in costs.

In South Carolina gas prices have risen 1.3 cents per gallon in the past week, averaging $2.63 per gallon Monday.

GasBuddy says they gather their information from daily surveys of 3,028 stations in the state.

They say prices in South Carolina are 21.5 cents per gallon higher than a month ago and stand 76.6 cents per gallon higher than a year ago.

GasBuddy price reports say the cheapest station in South Carolina is priced at $1.99 per gallon, while the most expensive is $3.39 per gallon, a difference of $1.40 per gallon.

The national average price of gasoline has fallen 0.3 cents per gallon in the last week, averaging $2.86 per gallon, however the national average is up 22.2 cents per gallon from a month ago and stands 78.2 cents per gallon higher than a year ago.

“With oil prices finally sagging over the last week on inflation fears and worries about a surge in COVID-19 cases in Europe impacting oil demand, motorists filling their tanks may soon see a brief respite from rising gas prices,” GasBuddy Head of Petroleum Analysis Patrick De Haan said. “While gasoline demand last week rose to its highest level since the pandemic began, concerns that oil demand growth will stall with COVID-19 cases surging in Europe are eroding oil’s recent rise. While gas prices still rose in a majority of states last week, we may see some price decreases in the week or weeks ahead, even as U.S. gasoline demand continues to rally to the highest level since the pandemic started nearly a year ago. It’ll be a bumpy road the next few weeks as markets sort out the bearish and bullish factors, but I still believe prices will likely experience more upward momentum ahead of Memorial Day.”

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