Marilyn Buskohl
Public Affairs Director
O: (605) 310-4614
C: (605) 367-3964
Marilyn.buskohl@aaasd.org

Pump Prices and Crude Oil Continue to Push Cheaper

February 3, 2020 - The national gas price average is $2.47, which is four cents cheaper than last week and 11 cents cheaper than the beginning of the year. Motorists are paying less to fill up especially as crude oil prices are less expensive.

“Gas prices are pushing cheaper for two reasons. Crude oil prices are $10 less a barrel than one month ago and U.S. gasoline stocks sit at an all-time record high,” said Marilyn Buskohl, AAA spokesperson. “Cheaper crude and healthy stock levels mean motorists can expect prices to continue to decline this month.”

South Dakota Gas Prices

Today

$2.36

Yesterday

$2.39

Last week

$2.42

Last month

$2.48

Last year

$2.15

 

Motorists in at least a dozen states can find gas for less than $2/gallon. Those gas stations are mostly found in the South and Southeast.

Today’s average is 11 cents less than this time last month, but 22 cents more expensive than last year.

Quick Stats 

  • The nation’s top 10 largest weekly decreases are: Kentucky (-11 cents), Ohio (-9 cents), Illinois (-7 cents), Iowa (-7 cents), Florida (-7 cents), Indiana (-7 cents), Missouri (-7 cents), Washington, D.C. (-6 cents), South Carolina (-6 cents) and Alabama (-6 cents). 
  • The nation’s top 10 largest monthly decreases are: Kentucky (-20 cents), South Carolina (-19 cents), Ohio (-18 cents), North Carolina (-17 cents), Delaware (-17 cents), Indiana (-17 cents), Tennessee (-16 cents), Louisiana (-16 cents), Texas (-15 cents) and Illinois (-15 cents).

Great Lakes and Central States

Gas prices are at least four cents cheaper across the Great Lakes and Central States except in Michigan (+4 cents), which is the only state in the country to see gas prices more expensive on the week. Despite the increase, Michigan’s average is 12 cents cheaper than last month.

Six states land on the top 10 list of the country’s biggest weekly decreases: Kentucky (-11 cents), Ohio (-9 cents), Illinois (-7 cents), Iowa (-7 cents), Indiana (-7 cents) and Missouri (-7 cents). Gas price averages in the region range from $2.11 - $2.54.

Motorists can expect gas prices to continue to decrease, although typical regional fluctuation is expected for some states including Ohio, Michigan, Kentucky and Illinois. 

Oil Market Dynamics

At the close of Friday’s formal trading session on the NYMEX, WTI dropped by 58 cents to settle at $51.56. For the second week, crude prices have decreased as a result of increased market concerns regarding the growing impact of the coronavirus on global travel. If global travel demand decreases, global crude demand would likely follow suit and result in lower global crude consumption. If market concerns regarding the virus continue to grow this week, crude prices could drop again. 

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.

 

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TEDx Wilmington Salon

Who's in the Driver's Seat? The Transformation of Transportation

On Tuesday, October 17, 2017, AAA and TEDx Wilmington held the first TEDx Salon dedicated to ideas worth spreading in transportation.

This event had:

  • 12 live talks given by 13 speakers
  • 368 people in attendance at the live event
  • More than 7,500 viewed the event online through Livestream, viewing events, and on the AAA Associate network
  • Online viewers came from all 50 states and approximately 30 countries around the world

View a slideshow from the event

This TEDx WilmingtonSalon was organized in partnership with AAA

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