South Carolina Gas Prices Rise $16 per Tank Versus Last Year
South Carolina drivers face a $16.42 increase per 15-gallon fill-up compared to last year, driven by a 38.7% year-over-year price surge.
The average price for regular gasoline in South Carolina reached $3.9243 per gallon on September 13. This figure is $1.0947 higher than the level recorded one year ago. For a standard 15-gallon tank, this annual increase adds $16.42 to the cost of fuel. The current fill-up costs $58.86, compared to $42.44 at this time last year.
Weekly trends show a $0.1685 rise over the past seven days. This translates to an additional $2.53 for a full tank. Despite the daily fluctuations, the state remains cheaper than the national average. The national average price stood at $4.3130 on the same date.
State Prices Lag National Averages
South Carolina retains a price advantage over the broader U.S. market. The state average is 38.87 cents lower than the national figure. This represents a 9.0% discount relative to the country-wide cost. The U.S. Energy Information Administration reported a national price of $4.157 for the week ending September 7.
Market data from GN auto markets/energy: gasoline prices indicates slight stabilization. The state average dropped 0.8 cents from Saturday to Sunday. This small decline suggests the recent price jump is not accelerating daily. However, the year-over-year burden remains the primary driver of household expense increases.
Wholesale Futures Signal Mixed Outlook
October RBOB gasoline futures settled at $3.1593 per gallon on Friday. This price fell 1.47% for the day but remains above the September 4 settlement. RBOB serves as the main wholesale benchmark for U.S. gasoline. Retail prices typically lag behind wholesale changes due to distribution costs and taxes.
If wholesale prices hold steady, retail averages may stabilize soon. A continued rise in RBOB would likely push retail costs higher. The current $2.53 weekly increase per tank may understate future pressure. Monitoring the next few days of data will clarify the direction of spending.
Consumer Spending Faces New Pressure
Fuel costs act as a direct claim on household cash. This expense is recurring and difficult to defer. Higher fuel prices leave less money available for discretionary items. Categories such as restaurants and general merchandise see reduced consumer outlays.
The 38.7% annual price increase is a significant factor in budgeting. While the state remains below the national average, the absolute cost is high. Investors should distinguish between current levels and future direction. The next move in wholesale markets will determine if this becomes a lasting drag on September spending.
