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

April Ends with Most Expensive National Gas Price Average Since 2014

April 30, 2018 - Hitting $2.81, today’s national gas price average has reached the highest price per gallon since November 2014. That year, pump prices averaged $3.34, peaking at $3.70 in April and bottoming out at $2.25 in December. This year’s pump prices will not be reminiscent of 2014, but for motorists, filling-up is packing an unwanted punch to wallets.

“Motorists have been spoiled the past few years with inexpensive gas prices,” said Marilyn Buskohl, AAA spokesperson. “We expect prices to continue increasing, potentially another 10 cents, through Memorial Day and then will likely stabilize during the summer, with the understanding that if demand spikes, prices are likely to follow.”

Today’s national gas price average is 16-cents more expensive than last month and 43-cents more expensive that last year at this time.

South Dakota Average Gas Prices:

Current Avg.

$2.674

Yesterday Avg.

$2.684

Week Ago Avg.

$2.626

Month Ago Avg.

$2.580

Year Ago Avg.

$2.402

 

Quick Stats

  • The nation’s top 10 states with the largest weekly increases are: Missouri (+9 cents), Delaware (+9 cents), Iowa (+8 cents), Utah (+7 cents), Georgia (+7 cents), New Jersey (+7 cents), Wyoming (+7 cents), Kentucky (+7 cents), Nebraska (+7 cents) and Wisconsin (+7 cents).
  • The nation’s top 10 most expensive markets are: Hawaii ($3.61), California ($3.61), Washington ($3.29), Alaska ($3.25), Nevada ($3.23), Oregon ($3.19), Utah ($3.09), Idaho ($3.09), Pennsylvania ($3.02) and Connecticut ($2.95).

Great Lakes and Central

Missouri (+9 cents) has the largest one-week jump at the pump in the nation and the region. Iowa (+8 cents), Wisconsin (+7 cents) and Kentucky (+7 cents) also land on the top 10 states list with the largest increase. At $2.92, Michigan carries the most expensive gas price average in the region followed by Illinois ($2.87), Indiana ($2.78), Ohio ($2.75) and Kentucky ($2.74).

Comparing pump prices to those this time last year, Indiana motorists are paying 53-cents more to fill-up. This is the most expensive year-over-year difference in gas prices of any state in the region.

In the coming days, some regional states may see prices spike a little higher than other surrounding states – including Wisconsin ($2.68), Michigan ($2.92) and Minnesota ($2.61) – following fires that broke out at Husky Energy’s refinery in Superior, Wisconsin, last Thursday. The impact on prices (short or long term) will be determined by the extent of damage to the refinery. According to the company’s website, the 50,000 b/d refinery processes light had heavy crude oil, in addition to asphalt, gasoline, diesel and heavy fuel oils. 

Oil market dynamics

At the close of Friday’s formal trading session on the NYMEX, WTI dropped 9-cents to settle at $68.10. Following EIA’s report that revealed crude inventories moved higher by 2.2 million bbl, oil prices were mostly stable last week, but remained near the three year highs they reached earlier this month.

Crude production in the U.S. is likely to continue its ascent. It has grown considerably alongside the total number of active rigs. According to Baker Hughes, the total number of rigs increased by five last week, bringing the total to 825. There are 128 more rigs this year than last year at this time. 

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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