Stable Gas Price Averages in South Dakota

January 28, 2019 - Many motorists filling up across the country are noticing gas prices that are increasing slightly. While nearly 25 states’ averages increased on the week, the national average is only a penny more than a week ago at $2.26. The fluctuating national and state gas price averages come alongside an increase in gasoline demand and reflect the higher crude oil prices as of late, but it’s likely not to be a long-term trend.

South Dakota Average Gas Prices:

“With gasoline stocks sitting at their highest level on record - 259.1 million bbl coupled with colder-than-normal weather forecasted for much of the Midwest and East Coast, motorists are likely to see demand drop and gas prices decrease or hold steady this week,” said Marilyn Buskohl, AAA spokesperson. 

Today’s national gas price average is three cents cheaper than a month ago and 33 cents less expensive than a year ago.

Quick Stats 

• The nation’s top 10 largest weekly changes are: Ohio (+10 cents), Michigan (+9 cents), Indiana (+8 cents), Georgia (+7 cents), Texas (+5 cents), North Carolina (+5 cents), Alabama (+5 cents), Alaska (-5 cents), Utah (-5 cents) and Tennessee (+4 cents).
• The nation’s top 10 least expensive markets are: Missouri ($1.91), Oklahoma ($1.93), Arkansas ($1.94), Kansas ($1.97), Mississippi ($1.97), Louisiana ($1.99), Texas ($1.99), Alabama ($1.99), South Carolina ($2.01) and Tennessee ($2.05).

Great Lakes and Central

The majority of Great Lakes and Central states are paying more to fill up on the week with gas prices fluctuating from $1.91 to $2.15 in the region. Of the nine states with more expensive gas prices, Ohio (+10 cents), Michigan (+9 cents) and Indiana (+8 cents), saw the biggest week-over-week changes while the other six states’ averages increased just one to three cents. All other states saw gas prices decrease as much as four cents or hold steady week-over-week.

Winter weather is likely one factor contributing to the higher prices. While colder temperatures do influence motorists to drive less, it can also influence retailers to increase prices ahead of winter storms, especially at times when motorists are stocking up or panic buying. However, the region’s high stock levels are helping to keep most price jumps moderate.

Gasoline stocks in the region sit at their largest level since 2016, a total of 61.2 million bbl. According to the Energy Information Administration (EIA), that is a 6.1 million bbl year-over-year surplus.

Oil market dynamics

At the close of Friday’s formal trading session on the NYMEX, WTI increased 56 cents to settle at $53.69. Overall, crude prices fell slightly last week after new EIA data showed that domestic crude oil inventories grew by an astonishing 8 million bbl last week. At 445 million bbl, the current crude inventory level is approximately 33 million bbl higher than last year at this time.

Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.