Gas Prices Surge in Columbia, SC

Gas station displaying rising gas prices in Columbia, SC

News Summary

Gas prices in Columbia, SC, have risen by 14 cents per gallon this past week, reaching an average of $2.83. While this marks an increase from last month, prices are still lower than last year. Nationwide trends and local market dynamics contribute to this surge, with potential impacts from geopolitical events and seasonal changes. Columbia’s prices are among the highest in Missouri, prompting residents to navigate budgeting for increased fuel costs as winter approaches.

Gas Prices Are on the Rise in Columbia, SC

If you’ve filled up your tank in Columbia, SC recently, you may have noticed a bit of a pinch in your wallet. Gas prices in the area have jumped a notable 14 cents per gallon over the past week, bringing the current average to $2.83 per gallon. This trend isn’t just a local quirk; it’s part of a broader pattern seen across the nation.

Comparative Costs and Historical Context

Looking back at last month, Columbia’s gas prices have climbed around 9 cents per gallon. However, it’s worth noting that these prices are still 9 cents lower than what drivers faced a year ago. When you zoom out and compare Columbia to the national average, it’s clear we’re still feeling the impact of rising costs as the average price in the U.S. stands at a heftier $3.09 per gallon.

Within the state of Missouri, Columbia is at the higher end of the spectrum for gas prices. The average sits at $2.96 per gallon, while the statewide average across Missouri hovers around $2.85 per gallon. Interestingly, AAA reported that this statewide average has only decreased by 1 cent since the previous week and has increased by 5 cents compared to last year.

Nationwide Trends Affecting Local Prices

oil supply and demand, seasonal shifts, and even geopolitical events. The price of crude oil is a big player; any changes in tariffs can send ripples through the gas prices we see at the pump. one-month postponement on tariffs that would impact imports from Canada and Mexico. Since nearly 70% of U.S. crude oil imports come from these two countries, this delay could have a significant impact on future gas pricing trends.

Stock Changes and Seasonal Factors

Energy Information Administration (EIA) recently reported an increase in gasoline stocks by 2.2 million barrels and a drop in distillate inventories by 5.5 million barrels. This fluctuation can also affect prices at the pump. As we transition into warmer months, the switch to summer blend gasoline in March and April might once again lead to varying gas prices.

Midwest Price Trends

8 cents since last month and is tracking at $2.98 per gallon. Just a year prior, the Midwest’s prices were about 6% lower, coming in at $2.80 per gallon. Comparatively, Midwest prices are around 4.6% less expensive than the national average of $3.13. With multiple states affecting the average price, keeping an eye on regional nuances could be key for savvy drivers.