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

Summer Savings at the Pump

June 10, 2019 - Nearly every state’s gas price average is cheaper than a week ago, a month ago and a year ago. Today’s national average is $2.74, which is seven-cents cheaper than last week, 13-cents less than a month ago and 18 cents cheaper than a year ago.

South Dakota Average Gas Prices:

Current Avg.

$2.753

Yesterday Avg.

$2.756

Week Ago Avg.

$2.767

Month Ago Avg.

$2.792

Year Ago Avg.

$2.889


“Refinery utilization in the United States is at its highest level since early January, resulting in overall gasoline stocks at healthy levels to meet robust summer demand. Prices are dropping due to cheaper crude oil and at the same time U.S. supply is keeping pace with demand,” said Marilyn Buskohl, AAA spokesperson. “The national average is poised to fall to at least $2.70 this week – an indication that pump prices may be even cheaper this summer.”
 

Quick Stats 

  • The nation’s top 10 largest weekly decreases are: Ohio (-21 cents), Indiana (-17 cents), Michigan (-15 cents), Illinois (-11 cents), Kentucky (-10 cents), Oklahoma (-9 cents), Maine (-8 cents), Wisconsin (-8 cents), Nebraska (-8 cents) and South Carolina (-7 cents).
  • The nation’s top 10 least expensive markets are: Mississippi ($2.32), Louisiana ($2.35), Alabama ($2.35), South Carolina ($2.36), Arkansas ($2.40), Texas ($2.41), Tennessee ($2.42), Oklahoma ($2.46), Missouri ($2.48) and Virginia ($2.49).

Central States and Great Lakes Region 

On the week, the top five states in the country with the largest declines hail from the Great Lakes and Central region: Ohio (-21 cents), Indiana (-17 cents), Michigan (-15 cents), Illinois (-11 cents), and Kentucky (-10 cents). Joining these five to round out the top 10 list are Wisconsin and Nebraska with eight-cent declines at the pump. Gas prices are cheaper across the region and range from $2.89 in Illinois – which is the 13th most expensive state average in the country – to $2.49 in Missouri, which is the ninth cheapest state average in the country.

Gas prices dropped alongside a build in gasoline stocks. According to EIA data the region saw inventory build by 300,000 bbl to total 48.1 million bbl, which is below the five-year average of 50.8 million. Refinery utilization slid back a percent to 83% and is the lowest utilization rate for the week ending May 31 among all five regions in the country. Despite the deficit in stocks and low refinery utilization rate, gas prices are expected to remain stable; though during the summer, some states may see weekly spikes – declines or increases – due to the typical volatility in the region.

Oil market dynamics

 

At the close of Friday’s formal trading session on the NYMEX, WTI increased by $1.40 to settle at $53.99. Crude prices increased on Friday after Saudi Arabia's Energy Minister Khalid al-Falih told an audience at a conference in Russia that OPEC and its partners are close to an agreement to extend their current 1.2-million b/d production reduction pact through the end of 2019. The cartel is expected to formally announce its decision at its upcoming meeting in Vienna on June 25 and 26.

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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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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