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Gas prices in SC holding, but expected to rise again

Gas prices in the Palmetto State remained unchanged last week, holding at a per-gallon price...
Gas prices in the Palmetto State remained unchanged last week, holding at a per-gallon price that is nearly 50 cents higher than just a month ago.(Storyblocks)
Published: May. 16, 2022 at 5:34 AM EDT
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CHARLESTON, S.C. (WCSC) - Gas prices in the Palmetto State remained unchanged last week, but GasBuddy says prices could rise this week, putting the national average price per gallon closer to $5.

GasBuddy said the average price per gallon as of Monday morning is $4.16, based on its survey of more than 3,000 gas stations statewide. That average is 46.4 cents higher than one month ago and $1.31 per gallon higher than one year ago.

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The cheapest station in South Carolina was priced at $3.65 per gallon as of Sunday while the most expensive was $4.69, a difference of $1.04 per gallon.

“Those filling their tanks last week saw another jolt at the pump, as both gasoline and diesel prices continued their multi-week rally,” Patrick De Haan, head of petroleum analysis at GasBuddy, said. “New records continued to be set on a near-daily basis as the national average edges even closer to $4.50 per gallon. Prices later this week could be closer to $5 per gallon than $4, as demand continues to edge higher and inventories of both gasoline and diesel continue to decline, temperatures warm and motorists get back outside and we near the Memorial Day weekend, the start of the summer driving season. While the increases may start to slow in the days ahead as pump prices catch up to oil, there isn’t much reason to be optimistic that we’ll see a plunge any time soon.”

The national average price of gasoline is unchanged in the last week, averaging $4.46 per gallon Monday. The national average is up 39.1 cents per gallon from a month ago and stands $1.43-per-gallon higher than a year ago, based on GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

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