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First time in Weeks – SD Gas Prices fall.

First time in Weeks – SD Gas Prices fall

UNDATED – Average gasoline prices in South Dakota have fallen 3.5 cents per gallon in the last week, averaging $3.28/g today, according to GasBuddy’s survey of 628 stations in South Dakota. Prices in South Dakota are 4.2 cents per gallon higher than a month ago and stand 12.0 cents per gallon lower than a year ago. The national average price of diesel has dropped 3.4 cents in the last week and stands at $3.94 per gallon.

According to GasBuddy price reports, the cheapest station in South Dakota was priced at $3.04/g yesterday while the most expensive was $3.84/g, a difference of 80.0 cents per gallon. The lowest price in the state yesterday was $3.04/g while the highest was $3.84/g, a difference of 80.0 cents per gallon.

The national average price of gasoline has fallen 1 cent per gallon in the last week, averaging $3.62/g today. The national average is up 2.7 cents per gallon from a month ago and stands 11.1 cents per gallon higher than a year ago, according to GasBuddy data compiled from more than 11 million weekly price reports covering over 150,000 gas stations across the country.

Historical gasoline prices in South Dakota and the national average going back ten years:
May 6, 2023: $3.40/g (U.S. Average: $3.50/g)
May 6, 2022: $4.00/g (U.S. Average: $4.29/g)
May 6, 2021: $2.84/g (U.S. Average: $2.95/g)
May 6, 2020: $1.58/g (U.S. Average: $1.80/g)
May 6, 2019: $2.75/g (U.S. Average: $2.89/g)
May 6, 2018: $2.68/g (U.S. Average: $2.80/g)
May 6, 2017: $2.32/g (U.S. Average: $2.34/g)
May 6, 2016: $2.14/g (U.S. Average: $2.22/g)
May 6, 2015: $2.45/g (U.S. Average: $2.64/g)
May 6, 2014: $3.53/g (U.S. Average: $3.67/g)

Neighboring areas and their current gas prices:
Sioux Falls- $3.21/g, down 5.6 cents per gallon from last week’s $3.27/g.
North Dakota- $3.32/g, unchanged from last week’s $3.32/g.
Nebraska- $3.31/g, down 1.9 cents per gallon from last week’s $3.33/g.

“We’ve seen the national average fade slightly again as oil prices have cooled and our spring peak appears to be more confidently behind us,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While refinery utilization rates last week indicated that there is still some refinery maintenance work to be done, oil prices have helped put downward pressure on gasoline prices, with oil falling below $80 per barrel last week. In addition, a weaker than expected jobs report is adding to some concerns that gasoline demand could remain weak through the summer driving season, which is just a few weeks from beginning. With the seasonal factors behind us, looking ahead, we expect gasoline prices to continue cooling alongside diesel prices as we look forward to Memorial Day weekend.”

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