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SD gas prices see 4.2 cent drop over past week

UNDATED – Average gasoline prices in South Dakota have fallen 4.2 cents per gallon in the last week, averaging $2.84/g today, according to GasBuddy’s survey of 628 stations in South Dakota. Prices in South Dakota are 17.5 cents per gallon lower than a month ago and stand 27.5 cents per gallon lower than a year ago. The national average price of diesel has fallen 5.6 cents in the last week and stands at $3.90 per gallon.

According to GasBuddy price reports, the cheapest station in South Dakota was priced at $2.47/g yesterday while the most expensive was $3.49/g, a difference of $1.02/g. The lowest price in the state yesterday was $2.47/g while the highest was $3.49/g, a difference of $1.02/g.

The national average price of gasoline has fallen 3.8 cents per gallon in the last week, averaging $3.03/g today. The national average is down 12.2 cents per gallon from a month ago and stands 22.0 cents per gallon lower 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:
January 8, 2023: $3.11/g (U.S. Average: $3.25/g)
January 8, 2022: $3.10/g (U.S. Average: $3.30/g)
January 8, 2021: $2.21/g (U.S. Average: $2.32/g)
January 8, 2020: $2.44/g (U.S. Average: $2.61/g)
January 8, 2019: $2.15/g (U.S. Average: $2.23/g)
January 8, 2018: $2.40/g (U.S. Average: $2.49/g)
January 8, 2017: $2.31/g (U.S. Average: $2.37/g)
January 8, 2016: $1.90/g (U.S. Average: $1.98/g)
January 8, 2015: $2.02/g (U.S. Average: $2.17/g)
January 8, 2014: $3.10/g (U.S. Average: $3.30/g)

Neighboring areas and their current gas prices:
Sioux Falls- $2.75/g, down 7.2 cents per gallon from last week’s $2.83/g.
North Dakota- $2.78/g, down 3.4 cents per gallon from last week’s $2.81/g.
Nebraska- $2.78/g, down 6.3 cents per gallon from last week’s $2.84/g.

“Sluggish gasoline demand has led to the national average easing again, and brings back the potential for the national average to drift under $3 per gallon for the first time since 2021,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “With a record rise in gasoline inventories last week as demand was anemic during the holidays, motorists have provided the catalyst for falling prices. If demand remains weak, gasoline prices could fall further. In addition, refinery issues in California have also eased, which will soon cause prices to decline in California, Nevada and Arizona, providing momentum for a possible run at a $2.99 national average. However, the better it gets now, the more bumpy and sharp the rise could be ahead of the spring, as prices could start their rise of 35-85 cents per gallon around mid-February.”

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