May 9, 2018 - The US re-imposing of economic sanctions on Iran could lead to higher gas prices across South Dakota – where drivers are already paying an average of almost $2.70 a gallon, the most they've paid in years.
President Trump announced yesterday that the US would be re-imposing economic sanctions against Iran and withdrawing from the Iran Nuclear Deal. The reinstated sanctions could lead to increased crude oil prices which would mean increased gas prices later this summer.
The average price of gas across South Dakota today is $2.70, already 33 cents higher than on this same day last year. Prior to Trump's announcement, gas prices were expect to continue to rise until around Memorial Day, but the sanctions could mean that gas prices will continue climbing deep into the summer driving season.
"This is a scenario of pump prices possibly going from bad to worse" says Marilyn Buskohl, spokesperson for AAA South Dakota. "The timing, just as we head into the busy summer driving season, is not ideal".
Find the latest gas prices for South Dakota at GasPrices.AAA.com.
As the Iran sanctions relate to gas prices, what you need to know:
Motorists across the country have been paying the highest gas prices since 2014.
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