Update 4/4: Prices continue to rise to an average of $3.50 per gallon.
We aren't going to try and be on top of gas prices every day. That's what MyrtleBeachGasPrices.com is for. But it seems worth mentioning that the prices jumped another 6¢ in the past few days. WBTW tells us how that compares to the national average.
First Reported 3/28: Being primarily a "drive to" tourist destination, leaves the Myrtle Beach area particularly sensitive to gas price fluctuations headed into Summer.
As WBTW points out, our area saw a slight increase to the local average this past week. We hit $3.43 per gallon which is nearly a dollar more than last year but still a solid dime and nickel below the national average of $3.56. Gas is usually the textbook example of supply-demand economics. So it's because we're demanding more gas from an ever increasingly dwindling supply, right?
Well, not exactly.
Since crude oil is a publicly traded commodity, the price is more determined by the whim of speculators and traders. Factor in the complication of exchange-traded funds and other market trickery like flash trading, it's almost amazing the price of crude oil and gasoline don't fluctuate more wildly. DailyFinance.com delves a little deeper into the issue.
You can always peep the latest local gas prices at MyrtleBeachGasPrices.com.