The national average price of regular unleaded gasoline remained relatively stable over the past week, settling at today’s price of $2.27 per gallon. Although today’s average remains flat compared to one week ago, drivers are paying ten cents less per gallon month-over-month, and 52 cents more per gallon year-over-year. Pump prices have been pressured higher overall due to cuts in oil production globally, but increased U.S. production and low demand has led to a leveling out of prices over the last couple of weeks. The U.S. Energy Information Administration’s (EIA) latest weekly estimates of U.S. gasoline demand show that January 2017 figures are down 6 percent from January 2016 and are at their lowest standing for the first month of the year since 2012.
Current Price Averages per Gallon of Regular Gasoline
· Sioux Falls – $2.24, down 10 cents since 1/6/17 … up 72 cents since 2/6/16
· Rapid City – $2.33, up 13 cents since 1/6/17 … up 46 cents since 2/6/16
· South Dakota – $2.32, down 2 cents since 1/6/17 … up 59 cents since 2/6/16
· U.S. – $2.27, down 9 cents since 1/6/17 … up 52 cents since 2/6/16
Quick Stats
The nation’s top five most expense markets are: Hawaii (3.11), California ($2.83), Washington ($2.73), Alaska ($2.72) and the District of Colombia ($2.55).
The nation’s top five least expensive markets are: South Carolina ($2.03), Alabama ($2.06), Tennessee ($2.06), Ohio ($2.07) and Mississippi ($2.07).
The top five markets with the most dramatic year-over-year increases in gas prices include: Minnesota (+71 cents), Michigan (+68 cents), New Jersey (+67 cents), Illinois (+67 cents) and Kansas (+66 cents).
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