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SD Gas Price Update

SD Gas Price Update

South Dakota gas prices rise 3.8-cents over past week

News Staff - October 29, 2017

UNDATED - Average retail gasoline prices in South Dakota have risen 3.8 cents per gallon in the past week, averaging $2.48/g yesterday, according to GasBuddy's daily survey of 628 gas outlets in South Dakota. This compares with the national average that has increased 0.6 cents per gallon in the last week to $2.45/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in South Dakota during the past week, prices yesterday were 27.4 cents per gallon higher than the same day one year ago and are 5.5 cents per gallon higher than a month ago. The national average has decreased 8.9 cents per gallon during the last month and stands 25.0 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on October 30 in South Dakota have ranged widely over the last five years:
$2.20/g in 2016, $2.31/g in 2015, $3.15/g in 2014, $3.21/g in 2013 and $3.54/g in 2012.

Areas near South Dakota and their current gas price climate:
Sioux Falls- $2.42/g, flat  from last week's $2.41/g.
North Dakota- $2.45/g, up 1.1 cents per gallon from last week's $2.44/g.
Nebraska- $2.45/g, up 2.7 cents per gallon from last week's $2.42/g.

"Oil prices have rebounded in the last week, led higher by geopolitical tensions and declining inventories, leading gasoline prices in some parts of the country to make an unseasonable move higher," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "As refineries continue autumn maintenance, we may continue to see gasoline inventories under pressure, with a mixed bag of increases and decreases in the weeks ahead until the conclusion of such maintenance. Meanwhile, exports of crude oil and refined products continue to hit record levels, also weighing on markets. Without the ability to export crude oil, inventories in the U.S. would have continued to increase, keeping pressure on oil prices, but without such protection, oil is flowing out of the U.S. at record pace."

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