Tumbling crude oil prices around the world have helped send the South Dakota retail average price for gasoline to $1.86 per gallon, nine cents lower than the price a year ago and 12 cents below the price one month ago, AAA reports. The price average in Rapid City is 47 cents more than the price in Sioux Falls.
“Crude oil’s in free fall amid plentiful supplies, increased exports from Iran, and concerns that problems in the Chinese economy will reduce fuel demand,” said Marilyn Buskohl, spokeswoman for AAA South Dakota. “These low gas prices are making driving more affordable, incentivizing motorists to hit the highway and take a good-fashioned American road trip, weather permitting.”
National retail gas price averages have fallen for 63 of the past 74 days, for a total savings of 34 cents per gallon, reaching today’s price of $1.88 per gallon. Gas prices are down seven cents per gallon on the week, which is the fastest pace gas prices have dropped since the middle of November. Motorists typically enjoy falling gasoline prices in early winter due to decreased demand for gasoline and that also is helping to push prices downwards. Despite recent declines, the national average price of gas is only 18 cents per gallon cheaper than a year ago since prices also were very low in early 2015.
Loading ...