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SD Gas Price Update

SD Gas Price Update
South Dakota Gas prices see slight uptick over past week
News Staff - January 2, 2018

UNDATED - Average retail gasoline prices in South Dakota have risen 0.6 cents per gallon in the past week, averaging $2.39/g yesterday, according to GasBuddy's daily survey of 628 gas outlets in South Dakota. This compares with the national average that has increased 3.9 cents per gallon in the last week to $2.48/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in South Dakota during the past week, prices yesterday were 9.9 cents per gallon higher than the same day one year ago and are 5.8 cents per gallon lower than a month ago. The national average has increased 1.3 cents per gallon during the last month and stands 13.6 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on January 2 in South Dakota have ranged widely over the last five years:
$2.30/g in 2017, $1.88/g in 2016, $2.09/g in 2015, $3.13/g in 2014 and $3.15/g in 2013.

Areas near South Dakota and their current gas price climate:
Sioux Falls- $2.41/g, up 4.4 cents per gallon from last week's $2.37/g.
North Dakota- $2.47/g, down 0.4 cents per gallon from last week's $2.47/g.
Nebraska- $2.38/g, down 2.1 cents per gallon from last week's $2.40/g.

"It's mostly a happy New Year as gas prices remain in the low-to-mid $2 per gallon range, but it's not quite as happy as could be as it's the priciest start to a New Year since 2014," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "2017 wrapped up a fairly tame year, but keep in mind oil prices are among the highest we've witnessed in over two years, and we're in the middle of a severe cold snap, one which is likely to drive up demand for heating oil, propane and other petroleum products, which is certainly a bullish start to the year. GasBuddy's 2018 Annual Fuel Outlook, being released tomorrow morning, will be giving motorists a good look at what to expect in the year ahead. In looking at our own report card from our 2017 Fuel Outlook, we had forecast a yearly average gas price of $2.49 per gallon, and were less than 10 cents away from hitting it head on. Anyone who's got a tank to fill- whether gas or diesel- will want to stay in the know for what's coming in the year ahead."



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