Gas Prices on the Rise in Myrtle Beach

News Summary

Gas prices in Myrtle Beach have increased by 10.1 cents over the past week, now averaging $2.73 per gallon. This surge reflects broader trends observed in South Carolina, where prices have also risen slightly. Factors contributing to this hike include cold weather, international sanctions impacting oil sales, and a production decrease expected as warmer weather approaches. The trend suggests a challenging situation for local consumers as they face higher fuel costs.

Gas Prices Keep Rising in Myrtle Beach!

Hey there, folks! If you’ve been out and about in Myrtle Beach lately, you might have noticed that the price you pay at the pump is creeping up. That’s right! Over the past week, gas prices in our beautiful coastal city went up by 10.1 cents per gallon. Yikes! With that, the average price now sits at about $2.73 per gallon.

Just a month ago, prices were 10 cents lower, so it looks like we’re paying a bit more now. If you’re checking out your local gas station, you’ll find prices ranging from a fairly wallet-friendly $2.54 per gallon to a steep $2.99 per gallon. What a jump in just a short time!

What’s Happening in the State and Beyond?

It’s not just Myrtle Beach feeling the pinch. Across South Carolina, gas prices have gone up slightly as well, with an average bump of 2 cents per gallon bringing the total to about $2.76 per gallon. Meanwhile, neighboring North Carolina has managed to keep their prices steady at $2.82 per gallon.

On a national scale, the average gas price saw minimal movement, only increasing by 0.9 cents. So while Myrtle Beach felt a notable rise, the rest of the country hasn’t been as affected.

Factors Behind the Price Spike

So, what’s causing this increase? Experts point to several factors. The ongoing cold weather has driven diesel prices higher, which could have a ripple effect on gasoline prices if refiners experience disruptions. Plus, with new sanctions from the government impacting oil sales from countries like Iran, oil prices are climbing – recently hitting their highest level since October.

Interestingly, while demand for gas usually dips this time of year, keep an eye out – the usual decrease in gasoline production by refiners is just around the corner. So that may change the game for pump prices as we wait for warmer weather to bring back more drivers on the road!

Prices on the Rise Again: A Closer Look

$2.78 per gallon, marking a 7-cent increase from a previous week. In that report, the cheapest gas was found at $2.59, with the high-end still at that $2.99 mark. It’s a rollercoaster ride for gas prices around here!

South Carolina’s state average also mirrored this trend, increasing by 4.2 cents in the past week to reach $2.80 per gallon. Meanwhile, in North Carolina, gas prices rose a modest 1 cent to $2.89.

A Mixed Bag for the Nation

Nationally, the average gas price surprisingly dipped 16.7 cents over the last month, representing four consecutive weeks of decline. Currently, the median price in the U.S. stands at $2.95 per gallon, which is the lowest we’ve seen since early 2021. Quite the contrast to what’s happening here and in some Southern states!

Consumption Trends and Future Outlook

In South Carolina, daily gasoline consumption is noticeably lower, with over 276,300 gallons less being consumed compared to five years ago. In 2021, residents used about 6.9 million gallons a day, averaging only 1.3 gallons per person. That’s quite a drop, especially considering how the pandemic has shifted our driving habits. In addition, many are turning to electric vehicles, further reducing gas consumption.

Travel patterns show that Southern states still consume more gas compared to their Northeastern and Western counterparts. As warmer weather approaches and people start traveling more, will we see another shift in gas prices? Keep your eyes peeled, because things are always changing at the pump!

We’ll keep you posted on how gas prices evolve in the coming weeks. Stay safe and enjoy your drives, Myrtle Beach!

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Additional Resources

• WMBF News: Myrtle Beach Gas Prices See 10 Cent Rise
• Island Packet: COVID-19 Impact on Gas Prices
• Stacker: Changes in South Carolina Gas Prices
• Encyclopedia Britannica: Gasoline
• WMBF News: Myrtle Beach Gas Price Below $3
• Google Search: Gas Prices Trends