Gas Price Averages Trending Cheaper on the Week Nationwide 

February 20, 2018 - The national gas price average has been steadily decreasing for nearly two weeks dropping from the year-to-date high of $2.61 (on February 5) to today’s national average of $2.53. Motorists in nearly every state including South Dakota are paying less on the week with Midwest and Southern states seeing the largest price drops at the pump. Hawaii (+2 cents) and Indiana (+1 cent) were the only states to see increases.

South Dakota Average Gas Prices:

“The question isn’t how low will they go, but how long will we see prices decline,” said Marilyn Buskohl, AAA South Dakota spokesperson. “A handful of major refineries are undergoing maintenance. If production slows at a high rate and/or if crude oil prices jump, these events could push pump prices back up in late February or March.”

Today’s national gas price average is 4 cent less than one week ago, 1 cent more than a month ago, but 25 cents more than a year ago.

Quick Stats

• The largest monthly decreases are: Michigan (-19 cents), Illinois (-13 cents), Ohio (-13 cents), Kentucky (-10 cents), Indiana (-8 cents), Alaska (-5 cents), Maryland (- 5 cents), Georgia (-5 cents), Mississippi (-4 cents) and North Carolina (-4 cents).
• The nation’s top ten least expensive markets are: Texas ($2.27), Mississippi ($2.27), Missouri ($2.27), Alabama ($2.27), South Carolina ($2.28), Ohio ($2.28), Arkansas ($2.32), Oklahoma ($2.33), Tennessee ($3.33) and New Mexico ($2.34).

Central and Great Lakes Region

Gas prices decreased at the pump all across the Great Lakes and Central region except in Indiana (+ 1 cent). On the week, Michigan (-11 cents), Ohio (-7 cents), Kentucky (-6 cents), Nebraska (-6 cents), Illinois (-6 cents) and Iowa (-6 cents) lead the region in price drops and land on the top10 states with the biggest changes list. A few states, including South Dakota (-2 cent) and North Dakota (-2 cents) did not see quite as high price drops.

North Dakota ($2.61) continues to sell the most expensive gas in the region and the 13^th most expensive in the country. Motorists there are paying 31 cents more for a gallon of unleaded compared to this time last year.

Oil market dynamics

At the close of Friday’s formal trading session on the NYMEX, WTI increased 34 cents to settle at $61.68. Crude prices may continue to trend higher this week amid signs of continued growth in U.S. oil production. Market watchers will closely monitor to see how much a surge in U.S. production eats into OPEC’s efforts to rebalance the market to determine the impact it has on crude oil prices.

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.