Gas prices in South Carolina have skyrocketed in recent
weeks, with further spikes likely due to the short-term shutdown of oil
refineries in Texas after a devastating deep freeze. However, there is a
longer-term trend towards higher prices at stake as the economy recovers from
the impacts of the coronavirus pandemic, heralding high demand for crude oil in
the future.
This optimism is driving a rebound in crude oil prices ...
which, in turn, is resulting in higher prices at the pump.
"Gas prices have only been steadily increasing week
after week since the end of November," AAA spokeswoman Jeanette McGee said
during a recent radio interview on NPR.
According to McGee, gasoline prices "will soon be more
expensive than the highest price of 2020 despite low demand."
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