Gas prices in South Carolina have seen a slight increase at the start of the workweek, following a week of mixed trends. The average price of gas in the state rose by 2.3 cents per gallon, reaching $4.13 per gallon as of Monday, according to GasBuddy's survey of 3,028 stations. This marks a significant jump from the previous month, with prices 46.4 cents per gallon higher, and a year ago, when prices were $1.41 per gallon lower.
Despite the overall rise, there's a wide range of prices across the state. Some gas stations still offer prices in the $3.54 per gallon range, while the most expensive station recorded a staggering $5.29 per gallon, a difference of $1.75 per gallon. This disparity highlights the varying costs that drivers in South Carolina may encounter.
On a national scale, the story is similar. The national average price of gas dropped by a mere 1 cent per gallon in the last week, maintaining an average of $4.47 per gallon as of Monday. However, this is still 45.2 cents per gallon higher than a month ago and $1.33 per gallon higher than a year ago, according to GasBuddy data. The national average reflects the global oil market's sensitivity to geopolitical developments, particularly the ongoing tensions between the U.S. and Iran.
GasBuddy experts predict that gas and diesel prices will remain volatile, especially with Memorial Day approaching. The recent failure of talks with China to pressure Iran and renewed warnings toward Tehran have contributed to the volatile market. Patrick De Haan, head of petroleum analysis at GasBuddy, noted that the national average price of gasoline had been drifting lower after a jump early in the week due to softening oil prices, but optimism faded after President Trump's meeting with China's Xi Jinping failed to produce a breakthrough on Iran. The market remains extremely sensitive to geopolitical developments and potential supply disruptions, which could lead to further price fluctuations in the coming weeks.
