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April 29, 2020
South Dakota ranked among the top 10 states nationwide for the biggest drop in gas prices over the past week, with the average price per gallon dropping by 5 cents.
As of April 28, South Dakotans were paying $1.62 per gallon on average for regular gasoline, according to AAA. That compares with $1.96 per gallon one month ago and $2.79 per gallon one year ago. Prices are lower in the southeast corner of the state. In Sioux Falls, it’s $1.53 per gallon for regular.
The national average is $1.77, which is 4 cents less than last week and $1.11 less than a year ago.
“AAA forecasts that the national average will continue to decrease into next month, possibly dropping as low as $1.65,” said Jeanette Casselano, AAA spokesperson. “We haven’t seen gas prices that cheap since January 2009.”
Some states could see minimal fluctuation at the pump in coming weeks if demand jumps as businesses are given the green light to reopen, AAA said.
“However, this will not have a large impact for the majority of the nation’s motorists.”
Crude oil prices were extremely volatile last week, pushing negative for the first time ever, but they did make significant gains to end the week in the positive. The Energy Information Administration reported demand at 5.3 million barrels per day, a slight increase but still an extremely low rate compared with last April’s 9.45 million average.
Gas prices dropped in South Dakota this week. Here’s how they stack up nationwide and where they might be headed.