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

Majority of Country Pays Less to Fill-Up

October 7, 2019 - The national gas price average continues to hold steady on the week at $2.65, which is nine cents more expensive than last month, but 26 cents cheaper than a year ago. Most motorists around the country are seeing prices decline or stabilize, with the majority of states seeing gas prices decrease by as much as a nickel since last Monday. But significant price jumps in California (+16 cents on the week) have pushed prices higher for motorists in the region, as gasoline stocks tighten along the West Coast.

South Dakota Gas Prices

Today

$2.53

Yesterday

$2.54

Last week

$2.56

Last month

$2.57

Last year

$2.93


“All regions are seeing planned and unplanned refinery maintenance, but it is only the West Coast that is really seeing gasoline stocks tighten and gas prices increase,” said Marilyn Buskohl, AAA spokesperson. “On the whole, we are seeing gasoline demand mostly push lower amid stable, but healthy gasoline stock levels which are ultimately keeping prices cheaper for most motorists.”

Today, 51% of all gas stations in the country are selling regular unleaded for $2.50 or less, while 77% are selling for $2.75 or less. 

Quick Stats

  • The nation’s top 10 largest weekly changes are: California (+16 cents), Nevada (+14 cents), Indiana (-8 cents), Delaware (-8 cents), Michigan (+6 cents), Oregon (+6 cents), Washington (+5 cents), Georgia (-5 cents), Maryland (-4 cents) and Texas (-4 cents).
  • The nation’s top 10 least expensive markets are: Louisiana ($2.27), South Carolina ($2.28), Mississippi ($2.28), Texas ($2.31), Alabama ($2.31), Arkansas ($2.31), Missouri ($2.32), Virginia ($2.32), Oklahoma ($2.33) and Tennessee ($2.34).

Central States and Great Lakes Region

Pump prices compared to a year ago are 20 cents to 45 cents cheaper for all motorists in the Great Lakes and Central states. Six states land on the top 10 list for largest yearly change: Indiana (-46 cents), Iowa (-45 cents), Nebraska (-39 cents), Kentucky (-39 cents), South Dakota (-39 cents), and Wisconsin (-39 cents).

On the week, all but three states in the region saw gas prices that are cheaper – by as much as four cents - or stable. Michigan (+6 cents), Ohio (+2 cents) and Illinois (+3 cents) were the outliers.

The region was just one of two to see gasoline stocks increase on the week. According to the latest EIA data, stocks built by nearly 1 million bbl to total 51 million bbl as regional refinery utilization held steady at 92%. The region is likely to see gas prices remain mostly stable or cheaper with the exception of typical volatility for a handful of states.

Oil market dynamics

At the close of Friday’s formal trading session on the NYMEX, WTI increased by 36 cents to settle at $52.81. Crude prices ended lower last week after continued trade tensions between the U.S. and China worried market observers. Those fears grew last week after the World Trade Organization ruled that the U.S. could impose tariffs on goods from the European Union. Increased tariffs could reduce global crude demand, helping to push prices down even further while crude supplies continue to increase. Moving into this week, further trade tensions could reduce crude prices amid worries that global crude demand will decline.

In related news, in its latest weekly report, EIA’s data revealed that total domestic crude inventories grew by 3.1 million bbl. At 422.6 million bbl, crude stocks are 18.7 million bbl higher than where they were at this time last year. 

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.

 

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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