MYRTLE BEACH, S.C. (WBTW) — Despite the Grand Strand’s largest city having healthy amounts in its key bank accounts, rising costs of oil-based commodities brought on by the war with Iran is worrying Myrtle Beach leaders.
“A month ago, we weren’t even talking about gas prices. It’s very concerning,” City Manager Jonathan “Fox” Simons said at a March 19 budget workshop. “We use a tremendous amount of gasoline in our vehicles. That has a huge impact on our budget. What’s it going to be in six months?”
By law, the city must finalize its 2026-27 budget by June 30 when the current fiscal year ends. Products like asphalt, diesel, fertilizer, gasoline, and synthetic rubber all come from refined crude oil, and many of those products are essential for day-to-day operations within the city.
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About 15% of fertilizer imports to the U.S. are from the Middle East, and about half the global supply of the key ingredient urea comes from the region, along with 30% of ammonia, according to the American Farm Bureau Federation.
A March 11 Congressional Research Service report said natural gas prices jumped 7% between Feb. 27 and March 2…