Gas prices rise again in South Carolina and nationwide; diesel nears record, analysts warn

ABC Team,

(WCIV) — Gas Prices both in South Carolina, and nationally rose once again this week, following recent escalations between the U.S. and Iran that continue to keep global oil flows and markets on edge.

Gas Prices

File Photo (AP Photo/Damian Dovarganes)

The average price of gas in South Carolina has risen 18.1 cents per gallon in the last week, now averaging $3.78 per gallon Monday, according to GasBuddy’s survey of 3,028 stations in South Carolina. This recorded price average is 70.7 cents per gallon higher than a month ago and is 95.7 cents per gallon higher than a year ago.

GasBuddy states that the cheapest station in South Carolina was priced at $3.39 per gallon yesterday while the most expensive was $4.43 per gallon, a difference of just over a dollar.

Meanwhile the national average price of gas rose 11.8 cents per gallon in the last week, now at just over the $4 mark at $4.06 per gallon as of Monday.

The national average is up 65.1 cents per gallon from a month ago and stands 85.0 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

“Gasoline prices are poised for another jolt this week,” predicts Patrick De Haan, head of petroleum analysis at GasBuddy. “In addition, some price-cycling markets could also see another round of increases. As a result, the national average could rise by double digits, potentially reaching the $4.20 to $4.35 per gallon range in the days ahead. Diesel prices continue to climb as well and now sit just 25 cents away from setting a new all-time record. Recent escalations between the U.S. and Iran have further intensified concerns about prolonged disruptions to global oil flows, keeping markets on edge. At this point, the trajectory of fuel prices remains highly uncertain and is largely contingent on the reopening of the Strait of Hormuz. Until that occurs, the risk of further increases remains firmly in place.”
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