(STACKER.COM) – Lower demand and fears of a recession are weighing on oil markets, keeping prices from making the kinds of seasonal jumps expected ahead of the summer travel season.
The national average price of gas has plateaued in recent weeks. Memorial Day weekend gas prices are projected to be a full $1 lower than a year ago, on average, according to GasBuddy.
“While gas prices are far lower in most areas than they were last year, Americans seem to feel a bit worse about the economy this year on the heels of rising interest rates, the bank crisis, and inflation that has spiked, impacting their ability to take a road trip during the summer driving season,” analyst Patrick De Haan said in a statement this week.
A gallon of gas was $3.54 on average, according to AAA gas price data. Stacker compiled statistics on gas prices in South Dakota. Gas prices are as of May 19.
South Dakota by the numbers
– Current gas price: $3.45
– 1-week change: -$0.01 (-0.3%)
– 1-year change: -$0.75 (-17.9%)
– Record average gas price: $4.80 (6/16/22)
– Current diesel price: $3.81
– 1-week change: +$0.00 (+0.0%)
– 1-year change: -$1.51 (-28.3%)
– Record high average diesel price: $5.41 (6/30/22)
Metros with most expensive gas in South Dakota
#1. Rapid City: $3.57
#2. North Sioux City: $3.50
#3. Sioux Falls: $3.35
States with the most expensive gas
#1. California: $4.80
#2. Hawaii: $4.78
#3. Arizona: $4.64
States with the least expensive gas
#1. Mississippi: $2.98
#2. Texas: $3.08
#3. Louisiana: $3.08