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Crude Costs Inflate Myrtle Beach Gas Prices

Posted on: Friday, 8 July 2005, 21:00 CDT

Jul. 8--With the price of a barrel of crude seemingly spiraling out of control, experts say gas prices at the pump have nowhere to go but up.

The signs were everywhere Thursday as several local gas stations raised their prices.

The price jumped two cents a gallon at a Scotchman gas station on 17 Bypass on Thursday afternoon, from $2.17 to $2.19 for unleaded.

Gas prices also went up - to $2.19 from $2.11 - at the Scotchman gas station at the intersection of Grissom Parkway and 21st Avenue North. Manager Fran Walker said she doesn't know if more increases are coming.

At Sam's Club in Myrtle Beach, the price of unleaded regular jumped from $2.01 a gallon Wednesday to $2.06 a gallon Thursday.

The increases followed a record Wednesday of more than $61 for a barrel of crude oil. Earlier Thursday, the price of a barrel of crude climbed to $62 a barrel before falling to around $61.

"What happens is that when the price goes up at the wellhead, we normally see some increases" as distributors anticipate supply price increases in the future, said Tom Crosby, spokesman for AAA Carolinas.

Tom Maeser, president of the Fortune Academy of Real Estate, says rising gas prices, more than any other economic factor, affect the local economy the most because Myrtle Beach is a destination most people drive to. Increasing gas prices can affect tourists' decisions to drive to the beach, hurting hotel occupancy and the real estate industry, he said.

Tourist Jim Chambers of Louisville, Ky., said no one seems to be able to explain completely why fuel costs keep rising.

"I wonder how well it's being controlled," he said. "It seems to be going up exponentially higher than anything else."

"Everything else, including the stock market, corrects itself except fuel prices," he said.

Rising gas prices are breaking the budget of North Myrtle Beach landscaper Michael Wright.

"My gas bills have tripled," Wright said, adding he's not sure how his business will handle more increases.

The price of a gallon of unleaded regular at Main Street Car Care in Myrtle Beach at 1100 Main St. stayed at $2.12 a gallon.

Owner Carolyn Todd said she didn't expect any increase soon.

By Garrison Wells and Jenny Burns

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Copyright (c) 2005, The Sun News, Myrtle Beach, S.C.

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Source: The Sun News (Myrtle Beach, S.C.)

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