As SC gas prices rise, analysts cite 4th of July, ‘insatiable demand’

CHARLESTON, S.C. (WCSC) - South Carolina gas prices have risen 4.6 cents per gallon in the past week and is averaging $2.80 per gallon before Independence Day.

GasBuddy’s daily survey of 3,028 stations in South Carolina says gas prices in the state are 0.9 cents per gallon lower than a month ago and stand 88.6 cents per gallon higher than a year ago.

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Their price reports say the cheapest station in South Carolina is priced at $2.51 per gallon Monday while the most expensive is $3.29 per gallon. This is a difference of 78.0 cents per gallon.

On the national scale, analysts say the average price of gasoline has risen 2.5 cents per gallon in the last week and is averaging at $3.09 per gallon Monday. The national average is up 4.7 cents per gallon from a month ago and stands 92.1 cents per gallon higher than a year ago, GasBuddy says.

“With oil’s continued push higher, fueled by continued strong demand globally and production only slowly answering, gasoline prices have had no choice but following the national average last week setting a new 2021 high,” GasBuddy Head of Petroleum Analysis Patrick De Haan said. “As we approach July 4, it appears the only way forward is for gas prices to continue their rise as Americans insatiable demand for gasoline continues to be the catalyst for the rise in price. With hurricane season soon coming into its prime, we have plenty of catalysts for a rise in price, and few that could restrain the situation. Motorists should prepare to dig deeper for the second half of the summer, unfortunately.”

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