South Carolina gas prices inch higher as national average falls

(Getty images)

by: Sophie Brams

Posted: Jun 5, 2023 / 11:35 AM EDT

Updated: Jun 5, 2023 / 11:35 AM EDT

CHARLESTON, S.C. (WCBD)- South Carolinians are seeing a slight bump in prices at the pump despite the nationwide average falling over the past week.

The state gas price rose by 1.1 cents in the past week and South Carolinians can now expect to pay $3.15 per gallon at the pump on average, based on a survey from GasBuddy of 3,028 gas stations across the state.

Gas prices in South Carolina are 1.4 cents per gallon higher than a month ago and stand 128.2 cents per gallon lower than a year ago.

The survey found that the cheapest gas in the state is priced at $2.83 per gallon while the most expensive is $3.99 per gallon, a difference of $1.16 per gallon.

The national average dropped by almost four cents, averaging $3.51 per gallon today. The national average is 1.7 cents per gallon lower than a month ago and 134.5 cents per gallon lower than a year ago.

"While the national average drifted lower last week as oil prices cooled off, the drop may be temporary. OPEC+ agreed Sunday to additional production cuts, while Saudi Arabia is going above and beyond and cutting July production," Patrick De Haan, head of petroleum analysis at GasBuddy said. "As a result, oil prices are likely to see upward pressure as global supplies, which have remained tight, promise to become even tighter as a result."

De Haan added that while prices could push slightly higher in the coming week due to the OPEC+ production cut, prices are unlikely to reach record levels.

"How long any rise in gas prices lasts is up in the air, but I do not yet believe motorists need to be worried," he said. "Any rise in average prices should be fairly small, and we’re still extremely unlikely to make a run at record prices anytime soon."

The national average diesel price dropped by 3.4 cents over the past week and now stands at $3.88 per gallon.

Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.