Gas prices steady for third week after early Spring jump

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: Apr. 5, 2021 at 7:26 AM EDT
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CHARLESTON, S.C. (WCSC) - Gas prices fell 1.4 cents per gallon in South Carolina in the past week.

GasBuddy says their daily survey of 3,028 gas stations in South Carolina shows that prices are averaging at $2.60 per gallon, Monday.

GasBuddy says Gas prices in South Carolina are still 11.4 cents per gallon higher than a month ago after an early Spring spike and stand 87.0 cents per gallon higher than a year ago.

“Last week was a mixed bag for consumers at the pump as gas prices in half of states rose, while the other half saw declines, with March closing like a lamb after starting out like a lion,” GasBuddy Head of Petroleum Analysis Patrick De Haan said.

Price reports show the cheapest station in South Carolina is priced at $2.30 per gallon, while the most expensive is $3.25 per gallon, a difference of 95.0 cents per gallon.

“Oil prices have shown signs of strength in the last few trading sessions, as OPEC agreed to raise oil production starting in May by a very modest 350,000 barrels per day,” De Haan said. “Overall, it’s a small increase in output as global demand continues to show strength in light of Covid-related improvements.”

The national average price of gasoline has fallen 0.4 cents per gallon in the last week, averaging $2.86 per gallon.

The national average is up 9.9 cents per gallon from a month ago and stands 95.5 cents per gallon higher than a year ago.

“U.S. gasoline demand rose for the sixth straight week as consumers hit the road for Easter, and with demand growth likely to remain robust, we may see a second attempt at a run at a national average of $3 per gallon in the months ahead,” De Haan said. “While the last few weeks have seen gas prices hold mostly steady, it’s not likely to last forever, especially as Americans increasingly get outside as warmer temperatures return.”

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