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Weekly South Dakota Gas Update

Weekly South Dakota Gas Update

South Dakota gas prices see big increase over past week

News Staff - May 6, 2018

UNDATED - Average retail gasoline prices in South Dakota have risen 8.1 cents per gallon in the past week, averaging $2.68/g yesterday, according to GasBuddy's daily survey of 628 gas outlets in South Dakota. This compares with the national average that has fallen 0.9 cents per gallon in the last week to $2.80/g, according to gasoline price website GasBuddy.com.

Including the change in gas prices in South Dakota during the past week, prices yesterday were 33.6 cents per gallon higher than the same day one year ago and are 9.8 cents per gallon higher than a month ago. The national average has increased 14.5 cents per gallon during the last month and stands 46.5 cents per gallon higher than this day one year ago.

According to GasBuddy historical data, gasoline prices on May 7 in South Dakota have ranged widely over the last five years:
$2.34/g in 2017, $2.15/g in 2016, $2.48/g in 2015, $3.53/g in 2014 and $3.45/g in 2013.

Areas near South Dakota and their current gas price climate:
Sioux Falls- $2.68/g, down 5.1 cents per gallon from last week's $2.73/g.
North Dakota- $2.70/g, up 0.7 cents per gallon from last week's $2.69/g.
Nebraska- $2.69/g, down 1.9 cents per gallon from last week's $2.70/g.

"The rise in gas prices has slowed substantially in the last week in some places, with 15 states seeing gas prices move lower versus last week," said Patrick DeHaan, head of petroleum analysis for GasBuddy. "While we may not be out of the woods yet, especially with President Trump mulling over the Iran nuclear deal, it's possible we're very close. Much will depend on his decision on the subject. Killing the deal may inflict more pain on motorists as it may lead to sanctions placed on Iran and their oil production, which would likely push oil prices higher. With summer gasoline now phased in and reaching motorists gas tanks across the country, it is no longer an active issue pushing prices up. Oil's moves and possible moves will likely be the key catalyst behind changes at the pump in the weeks ahead as summer driving season soon gets underway. Motorists should expect the national average to drift around in the upper $2 per gallon range for much of the summer."

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