GEORGETOWN, S.C. — Local gas prices have gone up at least seven cents in the past week and are expected to climb even higher for the next several months.
Officials with AAA Carolinas said that Georgetown has among the highest prices in the state for gasoline.
The highest price being paid for fuel in South Carolina is being paid in Myrtle Beach, said Brendan Byrnes, spokesman for AAA of the Carolinas.
Higher prices are also being paid in Charleston, he said.
According to gasfinder.com, the highest price being paid for fuel in Myrtle Beach is $2.69 a gallon for regular unleaded.
Prices in Georgetown range from $2.67 to $2.65 and $2.64 for a gallon of regular unleaded, he said.
Economist Don Schunk said this week that the price of gasoline could be $3.50 by Labor Day.
Officials with AAA Carolinas largely agree with that estimation.
“Regular unleaded could be $3 a gallon by June,’’ Byrnes said. “It certainly is not out of the question.”
Byrnes said the uptick in gas prices has happened as refineries close for maintenance and switch to their summer formula.
The amount of fuel is now a little lower, causing a rise in prices.
The price of crude oil has gone up to around $80, as investors become more confident in the economy.
“Investors think that demand for fuel will increase as the economy improves,” he said.
Economist Don Schunk, a professor at Coastal Carolina University, said this week that
Driving season
Over the past two years, there has traditionally been a 70 cent increase in the price of fuel from March through June, according to AAA.
“Conditions are not dramatically different from last year, so we can expect a rise in gas prices in upcoming weeks,” according to a statement from David E. Parsons, President and CEO of AAA Carolinas. “South Carolina motorists should be prepared for gasoline prices to climb upward significantly as we approach the summer travel season.”
By Kelly Marshall Fuller
Kfuller@gtowntimes.com
: 3/12/2010
Looks like we all gone have to crush our vehichles to get a little cash cause of no jobs and then ride a used old bike back and forth cause soon we not gone have any money to buy gas since most of us have no job so when we get to where we can't pay our car insurance or be able to buy gas then crush it and walk or ride a bike or skates,lol looks like me and others are headed that way don't need a skate rink anymore the highway is gone be one soon
: 3/12/2010
High gas prices helped escalate this economic meltdown we are in now and this will finish us off. Thanks to all the speculators out there.
: 3/12/2010
What a rip-off!!with all the oil thats proven to be under our country,why are the mid-eastern country'still run this show? We need to drill and those Caribou will just have to cope with it!