South Carolina sees 13.7 cent spike in gas prices amid escalating Middle East conflict
(WCIV) — As Israel and Iran continue to trade attacks, oil prices have surged, leading to a major rise in gas prices across South Carolina in the past week.
Average gasoline prices across the state have risen 13.7 cents per gallon in the last week, which on its own is a significant increase as prices have previously been fluctuating at a rate of 3.0 cents or 4.1 cents.
Prices at the pump are now averaging at around $2.83 per gallon Monday, according to GasBuddy’s survey of 3,028 stations in South Carolina.
According to their data, prices in South Carolina are 8.2 cents per gallon higher than a month ago but 23.1 cents per gallon lower than a year ago.
The cheapest station in South Carolina was priced at $2.40 per gallon Sunday while the most expensive was $3.09 per gallon, a difference of 69.0 cents per gallon.
Meanwhile the national average price of gas rose 1.1 cents per gallon in the last week according to GasBuddy, averaging at $3.08 per gallon Monday.
“With Israel and Iran trading attacks, oil prices have surged to multi-month highs—setting the stage for additional price hikes at gas pumps across the country,” said Patrick De Haan, head of petroleum analysis at GasBuddy.
According to De Haan, conditions could change at any moment and motorists should prepare for what could likely be some modest price increases on the horizon.
“As long as tensions in the Middle East continue to escalate, the risk of further impacts on oil prices remains high. For now, I expect gas prices could rise by 10 to 20 cents,” said De Haan.
