The nightmare returns: Myrtle Beach gas prices near $4 after calming down in April
Myrtle Beach gas prices spiked 21.1 cents in the last week, the largest rise in the area since the Russian invasion of Ukraine began more than two months ago, according to GasBuddy.
The average price per gallon of gas in the Grand Strand is now $3.97, reported GasBuddy, which tracks fuel prices across the nation. Gas costs $1.30 per gallon more today than it did a year ago.
On Sunday, the cheapest station in Myrtle Beach had gas at $3.83 per gallon while the most expensive was $4.15. GasBuddy did not mention the specific stations where those prices were listed.
Until this week, Myrtle Beach gas prices were actually on the decline. Late March and most of April saw gas prices fall more than 20 cents per gallon. That’s not enough to make a huge difference at the pump — but it still stands out sharply compared to the sharp increases of 10, 20 and even 40 cents that the region saw immediately following the Russian invasion of Ukraine.
The cost of gas in Myrtle Beach is catching up with gas prices across the nation.
Nationally, gas prices rose 13.6 cents per gallon to an average of $4.31 but are up overall for the last month by 19.6 cents.
GasBuddy cited the growing desire to discontinue the use of Russian fuel due to the ongoing invasion of Ukraine as one of the biggest reasons for the rise in gas prices. The U.S. had already halted imports of Russian oil, but it only made up a small percentage of the nation’s fuel supply.
“Gasoline and diesel prices alike saw strong upward momentum last week as oil prices continued to climb after the EU signaled its desire to sanction Russian oil. In addition, U.S. petroleum inventories saw yet another weekly decline as we near the start of summer driving season,” GasBuddy’s head of petroleum analysis Patrick De Haan said in a statement.
The rising fuel costs are affecting more than just the price at the pump for everyday drivers. Diesel prices, too, are reaching record highs, GasBuddy reports. On April 29, the national average price per gallon of diesel broke its previous record high of $5.15 set in early March. It hasn’t stopped going up since — the national average cost of diesel is now $5.52 per gallon
“Not only are diesel prices at a record high, they are at their largest differential to gasoline on record, surpassing the 98-cent difference in 2008 and currently standing at a $1.20 per gallon premium,” De Haan said in a statement. “While motorists filling with gasoline have seen a slight rise in prices, diesel’s surge will be a double whammy as diesel prices will soon be passed along to retail channels, further pushing up the cost of goods.”
Some of the worst gas prices could still be yet to come this summer, when millions of Americans are on vacation and traveling around the country, GasBuddy predicted previously.
This story was originally published May 9, 2022 at 10:26 AM with the headline "The nightmare returns: Myrtle Beach gas prices near $4 after calming down in April."
