National Gas Price Average Hits Highest Price Since Summer 2015

April 16, 2018 - At $2.71, gas prices are at their most expensive point in nearly three years and continue to climb. On the week, the national average increased a nickel. Motorists in six west coast states are paying more than $3/gallon. Across the country, only 27 percent of gas stations are selling gas for $2.50 or less.

“Expensive crude oil prices, unrest in the Middle East, strong domestic demand, record production rates and global oil supply surplus have created the perfect storm to drive spring gas prices toward new heights,” said Marilyn Buskohl, AAA spokesperson. “Consumers can expect gas prices to increase another 5 to 10 cents this season, but the national average is not expected to reach the $3 mark.”

Today’s gas price average is 18-cents more than a month ago and 30-cents more than a year ago.

South Dakota Average Gas Prices:

“AAA forecast that two-thirds of the 88 million families taking vacation this summer plan to drive to their destination. With more expensive gas prices on the horizon, travelers should plan now for the additional costs,” added Buskohl.

Quick Stats

• The nation’s top 10 largest increases from one year ago are: California (+55 cents), Utah (+54 cents), Hawaii (+50 cents), Idaho (+49 cents), Arizona (+45 cents), Nevada (+43 cents), Oregon (+38 cents), Georgia (+36 cents), Indiana (+35 cents) and Tennessee (+34 cents).

• The nation’s top 10 least expensive markets are: Oklahoma ($2.43), Arkansas ($2.44), Missouri ($2.45). Mississippi ($2.46), Louisiana ($2.47), South Carolina ($2.48), Alabama ($2.49), Kansas ($2.49), Texas ($2.49) and Minnesota ($2.51).

Central and Great Lakes Region

Gas prices are more expensive on the week across all states in the Great Lakes and Central region. With a 6 cent or more increase, three states land on this week’s top 10 list with the largest increases: Michigan (+10 cents), Illinois (+7 cents) and Missouri (+7 cents).

The average gas price in the region is $2.60 with Missouri ($2.45) selling the cheapest and Michigan ($2.78) selling the most expensive gasoline.

Oil market dynamics

At the close of Friday’s formal trading session on the NYMEX, WTI settled at $67.39. Last week, WTI traded at the highest levels since December 2014 and are expected to continue to build momentum this week. Oil prices edged higher last week following new concerns about tension in the Middle East. Following the weekend’s air strikes in Syria, it’s likely prices will go higher. Although Syria is not a major oil producer, tension in the country could ripple to other countries in the region and restrict global oil supply flows.

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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