Gas Prices on the Rise in Columbia, SC

News Summary

Columbia, SC is experiencing a rise in gas prices, with an increase of 14 cents per gallon recently, averaging $2.83. While current prices are 9 cents lower than last year, the national average has also climbed. Columbia has reported the highest gas prices among major metropolitan areas in Missouri, and factors like supply, demand, and crude oil prices are influencing these changes. Gas prices across the Midwest are similarly affected, with ongoing discussions about future trends.

Gas Prices on the Rise in Columbia, SC

If you’ve recently filled up your tank in Columbia, South Carolina, you may have noticed a slight increase in gas prices. The average cost of gasoline has shot up by 14 cents per gallon in just the past week, standing at a current average of $2.83 per gallon. This increase might have you looking for ways to stretch your dollar, as it also marks a 9 cents per gallon jump from prices just a month ago.

Looking back at last year, Columbia’s gas prices are about 9 cents per gallon lower than this time last year, which is a small silver lining as we navigate through these current rises. However, it’s not just Columbia feeling the pinch. The national average gasoline price has also ticked upward, settling at about $3.09 per gallon on average across the United States.

Columbia Tops the Charts Among Metro Areas

What’s particularly interesting is that Columbia boasts the highest gas prices among major metropolitan areas surveyed in Missouri. Within the city, the average cost per gallon has noted a rise to $2.96, which exceeds the statewide average in Missouri of $2.85. Even though Columbia is seeing a larger spike, the statewide gas prices in Missouri have only gone down by a cent from last week but are still up by 5 cents compared to this time last year.

The situation isn’t limited to the Palmetto State; looking at the big picture reveals that the national average price for regular unleaded fuel has increased by 2 cents from last week, reaching $3.14. This means if you’re traveling across state lines, you might want to keep your wallet prepared!

Why Are Prices Climbing?

Various factors play a role in why gas prices fluctuate so much. With nearly 70% of U.S. crude oil imports coming from Canada and Mexico—primarily Canada—it’s essential to stay informed about international policies and market conditions. Recent news of a one-month postponement on tariffs on goods from these countries could also play a role in future pricing trends.

A spokesperson from AAA has explained that factors like global supply and demand and crude oil prices can significantly impact pump prices. According to information from the Energy Information Administration (EIA), while gasoline stocks have seen an uptick of 2.2 million barrels, distillate inventories took a hit, dropping by 5.5 million barrels. These changes can lead to a tug-of-war in pricing as we move through different seasonal blends of gasoline.

Midwest Comparisons

$2.98 per gallon, rising from $2.92 last week. Compared to a year ago, gas prices in the Midwest reveal a 6% decrease, making the current costs feel a little more painful for local drivers. Not surprisingly, these Midwest figures remain around 4.6% lower than the current national average.

Conclusion

As gas prices experience daily shifts, it’s obvious that filling up will continue to be a topic of conversation among Columbia residents. Keeping an eye on trends and regional prices can give you a better sense of when to fill up. Here’s hoping for some drops at the pump in the near future!

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Additional Resources

• KOMU: Columbia Gas Prices Highest of State Metropolitan Areas
• Columbia Tribune: Average Midwest Gas Prices Rise
• Dispatch: EIA Predicts Higher Winter Heating Costs
• Wikipedia: Gasoline
• Google Search: Gas Prices Trends