CHARLESTON, SC (WCSC) – Gas prices in South Carolina have risen slightly over the past week and oil analysts say further increases are possible.
The average pump price rose 0.4 cents last week in the state, according to GasBuddy’s weekly survey of some 3,000 gas stations statewide. The average price of a gallon of regular gasoline remained at $3.
That’s 2.6 cents more than a month ago and 85 cents more than a year ago.
“With oil prices remaining high, average gasoline prices have risen in most states over the past week, even as gasoline demand has weakened, signaling concern among consumers. oil markets amid turmoil in oil-producing nations, said Patrick De Haan, an analyst at GasBuddy. “With all eyes on the Russia/Ukraine situation, oil is likely to stay above $80 a barrel, with a additional volatility. Prices could rise even more if there is a further deterioration in the situation.
The state’s cheapest gasoline price Monday morning was $2.74 a gallon, while the most expensive on record was 75 cents higher at $3.49, GasBuddy said.
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GasBuddy found the cheapest gas in the Lowcountry at $2.83 a gallon at a gas station in North Charleston.
The national average rose 1.8 cents over the past week and now averages $3.32 a gallon. That’s 3.3 cents more than a month ago and 92 cents more than a year ago.
“Right now, I don’t expect immediate fireworks at the pumps, but the upward trend in gasoline prices will likely persist as concerns continue to dominate weak global consumption. “, said De Haan.
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