SC gas prices continue sharp increases with back-to-back double-digit jumps

CHARLESTON, S.C. (WCSC) – South Carolina motorists are seeing another double-digit increase at the gas pumps over the past week.

GasBuddy’s survey of more than 3,000 gas stations in the Palmetto State shows prices have climbed 19 cents over the past week to an average of $3.48 per gallon.

Prices in the state are 37.6 cents higher than a month ago and stand 20.2 cents lower than a year ago.

The cheapest gas in the state on Monday morning was priced at $2.92 while the most expensive was $3.99, a difference of $1.07 per gallon.

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In the Lowcountry, the cheapest gas was at a station in Moncks Corner selling gas for $3.24 per gallon.

Nationally, the average price for a gallon of gas went up 16.5 cents to an average of $3.72. The national average is up 21.4 cents from a month ago and 45.6 cents lower than one year ago, according to GasBuddy data compiled from more than 11 million weekly price reports.

Diesel prices also saw a sharp spike with prices increasing 15.5 cents over the past week to an average of $3.99 per gallon.

“Gas prices suddenly soared over the last week due to heat-related refinery outages that impacted some of the largest refineries in the country, at a time when summer gasoline demand peaks and as gasoline inventories slid to their lowest July level since 2015,” GasBuddy Head of Petroleum Analysis Patrick De Haan said. “In addition, oil prices surged to their highest level in months, rising to over $80 per barrel due to SPR releases coming to an end and concerns over cuts in supply from Saudi Arabia and Russia, the second and third largest oil producers in the world. Motorists have seen average gasoline and diesel prices rise at the fastest pace in over a year, but the rise seen in the last week should now start slowing. However, as we get ever closer to the peak of hurricane season, any new issues could easily push the national average over $4 per gallon for the first time in 2023. Drivers may want to brace for potentially higher prices yet.”

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